Delta Autocorp IPO Day 2: Check Subscription Status, Price Band, GMP And Other Details

The Delta Autocorp IPO comprises a fresh issue of 38.88 lakh shares, raising Rs 50.54 crore, along with an offer for the sale of 3.12 lakh shares, making a total of Rs 4.06 crore

The initial public offering (IPO) of Delta Autocorp Ltd, which opened on Tuesday, has received a strong response from investors. The price band for the Rs 54.60-crore IPO, which closes on January 9 (Thursday), is set between Rs 123 and Rs 130 per share. As of 11:20 am on Wednesday, the second day of bidding, the IPO has been subscribed 24.48 times, with bids of 6,69,72,000 shares against 27,36,000 shares on offer.

The retail investor portion has been subscribed 42.09 times, while the non-institutional investor (NII) segment has received 14.96 times subscriptions. The Qualified Institutional Buyers (QIB) category has been subscribed 0.78 times.

The Delta Autocorp IPO comprises a fresh issue of 38.88 lakh shares, raising Rs 50.54 crore, along with an offer for the sale of 3.12 lakh shares, making a total of Rs 4.06 crore.

Key Details For Investors:

• IPO Subscription Period: The Delta Autocorp IPO will remain open until January 9, 2025. The final share allotment will be confirmed by January 10, with refunds for non-allottees and shares credited to successful bidders' Demat accounts on January 13. The shares are expected to be listed on the NSE SME platform, Emerge, on January 14, 2025.
  
  


• Price Band and Investment: The price band for the Delta Autocorp IPO is set between Rs 123 and Rs 130 per share. Retail investors can apply for a minimum of 1,000 shares, which requires an investment of Rs 1,30,000.
  
  


• Share Allocation: The IPO has allocated shares to different investor categories: Qualified Institutional Buyers (QIBs) will receive up to 50 per cent of the total issue, retail investors will be allocated 35 per cent, and High Net-Worth Individuals (HNIs) or non-institutional investors will be allotted a minimum of 15 per cent.
  

Delta Autocorp IPO Grey Market Premium (GMP):

Market observers report that unlisted shares of Delta Autocorp Ltd are currently trading at Rs 240 each in the grey market, reflecting an 84.62 per cent premium over the upper IPO price of Rs 130. This suggests strong potential listing gains for investors on January 14.