The scrip was listed at 175, at a premium of 34.62% compared with the initial public offer (IPO) price. The stock was currently down 2.29% over its listing price.
The counter hit a high of Rs 183.75 and a low of Rs 167.65. About 14.41 lakh shares of the company changed hands at the counter.
Delta Autocorp's IPO was subscribed 309 times. The issue opened for bidding on 7 January 2025 and it closed on 9 January 2025. The price band of the IPO was set at Rs 123 to Rs 130 per share.
The issue size comprised of fresh issue of 27,18,000 and offer for sale (OFS) of 3,12,000 shares by existing promoter, Ankit Agarwal.
The company intends to utilize the net proceeds to meet working capital requirements, fund expenditure towards setting up an electric three-wheeler fabrication plant & painting plant, invest in new product development, meet offer expenses and general corporate purposes.
Ahead of the Delta Autocorp on 6 January 2024, raised Rs 15.21 crore from anchor investors. The board allotted 11.70 lakh shares at Rs 130 per share to 12 anchor investors.
Delta Autocorp is primarily engaged in the manufacturing and sale of electric two-wheeled (2W) and three-wheeled (3W) vehicles. Operating under the brand name "Deltic," the company specializes in the production of innovative electric vehicles. Currently, Delta Autocorp focuses primarily on B2B transactions and operates through an extensive network of over 300 dealers spread across 25 states and Union Territories in India. As of 31 October 2024, the company had 139 employees.
The company recorded revenue from operations of Rs 45.17 crore and net profit of Rs 4.80 crore for the period from 1st April, 2024 to 31st October, 2024.