Delta Autocorp IPO is making waves on its second day of bidding, drawing attention in the grey market with a soaring premium. A NSE SME issue, Delta Autocorp IPO is open for subscription from January 7 to January 9.
Let’s take a look at the latest GMP trend, subscription status, and other key details of this SME issue.
Delta Autocorp IPO – GMP Trends
On the second day of bidding, Delta Autocorp’s shares are trading at a GMP of Rs 110 in the unofficial market. This premium signals a potential listing price of Rs 240 per share, an 84.62% jump from the IPO’s upper price band of Rs 130.
However, this is not the official listing price and may fluctuate depending on the market sentiments.
Delta Autocorp IPO – Subscription status
On the second day of bidding, the IPO was subscribed 38.84 times so far. The retail category subscription rate was 66.47 times, Non-Institutional Investors (NII) secured 22.53 times and the Qualified Institutional Buyers (QIB) segment subscription rate was 2.7 times, till now.
Also Read: Standard Glass Lining Technology IPO GMP shoots up 68% – Should you subscribe?
Delta Autocorp IPO – Key details
The IPO includes a fresh issue of 38.88 lakh shares, raising Rs 50.54 crores, and an offer for sale of 3.12 lakh shares worth Rs 4.06 crores, totaling Rs 54.60 crores. Anchor investors have already contributed Rs 15.21 crores.
Delta Autocorp IPO – Allotment and Listing
After the three day bidding process, the allotment of shares is set to be finalised on January 10 and the listing of the company on the NSE SME platform will be held on January 14.
GYR Capital and Market Makers: Backing the IPO
The IPO is managed by GYR Capital Advisors, with Link Intime India as the registrar. Giriraj Stock Broking is the market maker.
About the company
Delta Autocorp operates in manufacturing and selling electric two-wheelers and three-wheelers. The company operates under the brand name “Deltic,” and started initially working on electric three-wheeler prototypes. In 2017, the company achieved a major breakthrough with the launch of its first E-Rickshaw, offering a mileage of over 150 km.
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