Delta Autocorp Limited IPO (Delta Autocorp IPO) Detail

Delta Autocorp IPO is a book built issue of Rs 54.60 crores. The issue is a combination of fresh issue of 38.88 lakh shares aggregating to Rs 50.54 crores and offer for sale of 3.12 lakh shares aggregating to Rs 4.06 crores.

Delta Autocorp IPO bidding started from January 7, 2025 and ended on January 9, 2025. The allotment for Delta Autocorp IPO was finalized on Friday, January 10, 2025. The shares got listed on NSE SME on January 14, 2025.

Delta Autocorp IPO price band is set at ₹130 per share. The minimum lot size for an application is 1000. The minimum amount of investment required by retail investors is ₹1,23,000. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,30,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹2,60,000.

GYR Capital Advisors Private Limited is the book-running lead manager of the Delta Autocorp IPO, while Link Intime India Private Ltd is the registrar for the issue.The market maker for Delta Autocorp IPO is Giriraj Stock Broking Private Limited.

Refer to Delta Autocorp IPO RHP for detailed information.

Delta Autocorp IPO Details

Delta Autocorp IPO Reservation

Delta Autocorp IPO offers 42,00,000 shares. 7,81,000 (18.6%) to QIB, 5,87,000 (13.98%) to NII, 13,68,000 (32.57%) to RII and 11,70,000 (27.86%) to Anchor investors.

Delta Autocorp IPO Anchor Investors Details

Delta Autocorp IPO raises Rs 15.21 crore from anchor investors. Delta Autocorp IPO Anchor bid date is January 6, 2025. Delta Autocorp IPO Anchor Investors list

Delta Autocorp IPO Timeline (Tentative Schedule)

Delta Autocorp IPO opens on January 7, 2025, and closes on January 9, 2025.

Delta Autocorp IPO Lot Size

Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Delta Autocorp IPO Promoter Holding

Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue

About Delta Autocorp Limited

Incorporated in 2016, Delta Autocorp Limited is engaged in the business of manufacturing and selling of 2-wheelers & 3-wheelers EVs.

The Company operates under the brand name “Deltic”. Initially concentrating on developing electric 3-wheelers prototypes, they marked a significant milestone in 2017 with the launch of their first E-Rickshaw, boasting an impressive mileage of over 150 Km.

After analysing market trends and changing customer preferences, the company expanded its product range to electric 2W vehicles. In 2018, prototype development began, and in 2019, the company launched affordable, durable scooters for tier-2 and tier-3 towns.

The company operates through a network of over 300 dealers across 25 states and Union Territories, focusing on B2B transactions. The goal is to become a global brand with cost-effective, practical products and excellent service.

Their Products:

• Electric 2W scooters: Deltic Drixx, Deltic Trento
• Electric 3W rickshaws: Deltic Star, Deltic Vayu
• Electric 3W loaders
• Electric 3W garbage carts
• Spare parts and accessories for 2W and 3W vehicles: 3W Controller, 3W Motor

The company focuses on in-house product innovation through its R&D department in Uttar Pradesh, with 11 employees dedicated to designing electric vehicles based on customer needs and preferences.

As of 31 October 2024, the company has 139 employees.

Competitive Strength:

• Experienced Promoters and Management Team
• Customer Centric Approach
• In house Research and Development of Products
• Cracking the distribution model
• Tapping into the mass premium segment
• Quality Standard Certifications & Quality Tests
• Diversified product range

Company Financials

Delta Autocorp Limited Financial Information (Restated)

Key Performance Indicator (KPI)

The market capitalization of Delta Autocorp IPO is Rs 198.77 Cr.

KPI as of Fri, Mar 31, 2023.

• The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
• The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of October 31, 2024 that is available in RHP.

The finances are segregated for the period from 1st April 2024 to 31st October 2024, and for the period from 21st July 2023 to 31st March 2024. As these are not annualized, the KPIs have been updated based on the latest financial period from 1st April 2024 to 31st October 2024.

Objects of the Issue (Delta Autocorp IPO Objectives)

The objects of the Offer are:

1. Funding of Expenditure towards Setting up an Electric Three-Wheeler Fabrication Plant & Painting Plant
2. Investment in New Product Development
3. Funding of working capital requirement
4. General Corporate Purposes
5. To meet out the Offer Expenses

Delta Autocorp IPO Review May apply

[Dilip Davda]  The company is one of the emerging E-2W and E-3W vehicles with PAN India presence. It posted static top lines for F23 and FY24, but marked boosted profits for FY24. The company is marketing its products under the brand name of “Deltic”. Based on its recent financial performance, the issue appears fully priced. Borrowings of Rs. 11.20 cr. as of October 31, 2024, raise concern. Well-informed investors may park funds for medium to long term. Read detail review…

Delta Autocorp IPO Subscription Status (Bidding Detail)

The Delta Autocorp IPO is subscribed 342.1 times on January 9, 2025 6:19:58 PM (Day 3). The public issue subscribed 314.33 times in the retail category, 178.64 times in the QIB category, and 624.28 times in the NII category. Check Day by Day Subscription Details (Live Status)

Total Application : 4,58,617

*Market Maker portion is not included to NII/HNI.

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