Delta Autocorp Limited, a manufacturer of electric two-wheelers and three-wheelers under the brand name “Deltic,” recently concluded its Initial Public Offering (IPO) on the NSE SME platform. Here are the key details:

IPO Details:

• Issue Period: January 7 to January 9, 2025.
• Issue Size: ₹54.60 crore, comprising a fresh issue of 38.88 lakh shares worth ₹50.54 crore and an offer for sale (OFS) of 3.12 lakh shares amounting to ₹4.06 crore.
• Price Band: ₹123 to ₹130 per equity share.
• Lot Size: 1,000 shares, requiring a minimum investment of ₹130,000.
• Listing Date: Expected on January 14, 2025, on the NSE SME platform.

Subscription Details:

The IPO received an overwhelming response, being oversubscribed 342.1 times. The breakdown is as follows:

• Qualified Institutional Buyers (QIBs): Subscribed 178.64 times.
• Non-Institutional Investors (NIIs): Subscribed 624.28 times.
• Retail Individual Investors (RIIs): Subscribed 314.33 times.

Allotment and Listing:

• Allotment Finalization: January 10, 2025.
• Initiation of Refunds: January 13, 2025.
• Shares Credited to Demat Accounts: By January 13, 2025.
• Listing Date: January 14, 2025.

Company Overview:

Incorporated in 2016, Delta Autocorp Limited specializes in the design, manufacturing, and sale of electric two-wheelers and three-wheelers under the brand name “Deltic.” The company initially focused on developing electric three-wheeler prototypes and launched its first E-Rickshaw in 2017, offering a mileage of over 150 km. Subsequently, Delta Autocorp expanded its product range to include electric scooters, targeting tier-2 and tier-3 towns. The company operates through a network of over 300 dealers across 25 states and Union Territories.

Utilization of Funds:

Proceeds from the IPO are planned for:

• Setting up an Electric Three-Wheeler Fabrication and Painting Plant.
• Investing in New Product Development.
• Meeting Working Capital Requirements.
• General Corporate Purposes, including Offer Expenses.

For more detailed information, you may refer to the official prospectus and financial reports of Delta Autocorp Limited.