Delta Autocorp launches IPO with strong backing from brokerages as demand for electric vehicles rises

Delta Autocorp's initial public offering (IPO) opened for bidding on January 7, 2025, with shares priced between Rs 123-130. The company, which manufactures electric two-wheelers and three-wheelers, aims to raise Rs 54.60 crore through the IPO. Brokerage firms are optimistic about the IPO, citing strong demand for electric vehicles and the company's reasonable valuations. Delta Autocorp plans to use the funds for expanding its electric 3-wheeler plant and product development. The IPO includes a fresh share sale and an offer-for-sale, with significant interest from anchor investors. Shares are expected to list on the NSE Emerge platform on January 14, 2025.