IPO Details

Bidding Dates

08 Jan '25 - 06 Jan '25

Minimum Investment

₹1,30,000 / 1 Lot (1,000 Shares)

Price Range

₹123 - ₹130

Maximum Investment

₹1,30,000 / 1 Lot (1,000 Shares)

Retail Discount

Not Applicable

Issue Size

₹54.60 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Delta Autocorp IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jan 6, 2025

IPO Closing Date

Jan 8, 2025

Basis of Allotment

Jan 9, 2025

Initiation of Refunds

Jan 12, 2025

IPO Listing Date

Jan 13, 2025

About Delta Autocorp IPO

Delta Autocorp is launching a book-built IPO worth ₹54.60 crore, comprising a fresh issue of 38.88 lakh shares amounting to ₹50.54 crore and an offer for sale of 3.12 lakh shares valued at ₹4.06 crore. The IPO is open for subscription on January 7, 2025, and close on January 9, 2025. Allotment is expected to be finalised on January 10, 2025, with the tentative listing date set for January 14, 2025, on the NSE SME platform.

The price band for the IPO is set at ₹123 to ₹130 per share. The minimum application size for retail investors is 1,000 shares, requiring a minimum investment of ₹1,30,000. For HNIs, the minimum investment is 2 lots (2,000 shares), amounting to ₹2,60,000.

GYR Capital Advisors Private Limited is the book-running lead manager, Link Intime India Private Ltd is the registrar, and Giriraj Stock Broking Private Limited is the market maker.

Industry Outlook

  1. India’s EV market needs ₹12.5 trillion investment by 2030 for vehicle production and charging infrastructure to meet ambitious electrification goals, driving robust industry growth.
  2. Electric two-wheelers dominate with 26% market share by Ola, followed by TVS (14.5%) and Hero Electric (12.5%), signalling a booming E2W market in India.

Delta Autocorp IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  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

About Delta Autocorp Limited

Incorporated in 2016, Delta Autocorp Limited specialises in the manufacturing and sale of electric two-wheelers and three-wheelers under the brand name "Deltic". The company initially concentrated on developing electric three-wheeler prototypes and achieved a significant milestone in 2017 with the launch of its first E-Rickshaw, offering an impressive mileage of over 150 km.

Observing market trends and shifting customer preferences, Delta Autocorp expanded its product range to include electric two-wheelers. Prototype development commenced in 2018, leading to the launch of affordable and durable scooters in 2019, specifically designed for tier-2 and tier-3 towns.

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

Delta Autocorp's product portfolio includes electric two-wheeler scooters such as the Deltic Drixx and Deltic Trento; electric three-wheeler rickshaws like the Deltic Star and Deltic Vayu; electric three-wheeler loaders; electric garbage carts; and spare parts and accessories for two-wheelers and three-wheelers, including controllers and motors.

Committed to in-house product innovation, the company's R&D department in Uttar Pradesh employs 11 dedicated professionals focused on designing electric vehicles tailored to customer needs and preferences. As of 31 October 2024, Delta Autocorp Limited has a workforce of 139 employees.

How To Check the Allotment Status of the Delta Autocorp IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Delta Autocorp IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Delta Autocorp IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Delta Autocorp IPO 

Registered office: Plot No 304 P, Pithakiarypost-Rupnarayanpur, Bardhaman, West Bengal, India, 713386

Phone: +91 8448223541

E-mail: compliance@deltic.co 

Delta Autocorp IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Issue

Retail Shares Offered

Not less than 35.00% of the Net Issue

NII (HNI) Shares Offered

Not more than 15% of the Net Issue

Delta Autocorp IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

1,000

₹1,30,000

Retail (Max)

1

1,000

₹1,30,000

HNI (Min)

2

2,000

₹2,60,000

Delta Autocorp IPO Promoter Holding

The company is promoted by the following individuals: Mr. Ankit Agarwal, Mrs. Priyanka Agarwal and Mr. Sanwarmall Agarwalla.

Share Holding Pre-Issue

97.59%

Share Holding Post Issue

  

Key Performance Indicators for Delta Autocorp IPO

As of March 31, 2024, the market capitalisation of Delta Autocorp's IPO is ₹93.37 crore. Here are the KPIs of Delta Autocorp:

KPI

Value

ROE (%)

23.69%

ROCE (%)

19.32%

Debt to Equity Ratio (x)

0.49

RoNW (%)

21.18%

PAT Margin (%)

10.64%

Price to Book Value (x)

6.53

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

7.21

5.39

P/E (x)

18.03

24.11

Delta Autocorp IPO Prospectus

Delta Autocorp IPO Registrar and Lead Managers

Delta Autocorp IPO Lead Managers

  • GYR Capital Advisors Private Limited

Registrar for Delta Autocorp IPO

Link Intime India Private Ltd

  • Contact Number: +91-22-4918 6270
  • Email Address: deltaauto.smeipo@linkintime.co.in

 Website: Delta Autocorp IPO Registrar

Financial Performance of Delta Autocorp Limited

Particulars For the period from 1 st April, 2024 to 31st October, 2024 For the period from July 21, 2023 to March 31, 2024 For the period from April 01, 2023 to July 20, 2023 Year ending on March 31, 2023
Revenue from Operation (in ₹ lakh) 4,517.92 6,307.28 1,774.01 8,001.98
Profit After Tax (PAT) (in ₹ lakh) 480.81 695.68 126.32 513.41
Total Borrowings (in ₹ lakh) 1120.31 536.21 467.09 413.6
Net Worth (in ₹ lakh) 2270.11 1789.29 1242.62 1141.48
Return on Equity (%) 23.69% 45.89% 10.60% 56.10%
Return on Capital Employed (%) 19.32% 40.32% 10.67% 49.30%
Debt to Equity Ratio (x) 0.49 0.30 0.38 0.36
Earning Per Share (EPS)-in absolute ₹ 4.22 9.51 2.28 9.25

Know before investing

Strengths

6

  1. Promoters bring 14+ years’ experience across finance and EV sectors.

  2. Robust network with 300+ dealers across 25 states operational.

  3. Diversified EV portfolio includes scooters, rickshaws, loaders, and accessories.

  4. ISO 9001:2015 and BIS certifications ensure premium product quality.

  5. Targeting underserved tier-2 and tier-3 markets with affordable EVs.

  6. In-house R&D with 15 employees focuses on customer-centric innovation.

Risks

6

  1. Defects in EVs could damage brand and incur legal costs.

  2. Developing new EV models requires significant capital, risking delays.

  3. Dependence on top five dealers contributing 36.3% revenue risky.

  4. Top five suppliers contribute 72.35%; dependency risks operations.

  5. Disruptions in distribution network could impact financial performance.

  6. Reliance on third-party logistics increases operational vulnerability.

  • How to Apply in IPO
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Delta Autocorp Limited Peer Details Comparison

Company Name EPS (Basic) NAV (per share) (₹) RoNW (%) P/BV Ratio
Delta Autocorp Limited 4.22 19.91 21.18 6.84
Wardwizard Innovations & Mobility Limited 0.52 3.88 13.79 12.33

Delta Autocorp IPO FAQs

What is the Delta Autocorp IPO?

Delta Autocorp IPO is a book-built issue IPO. It will be open from January 7, 2025, to January 9, 2025.

When will Delta Autocorp IPO be allotted?

The Basis of Allotment will happen on Friday, January 10, 2025.

When will Delta Autocorp IPO open for subscription?

The IPO subscription window will open on January 7, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000 shares.

When will Delta Autocorp Limited list on exchanges?

The listing date for Delta Autocorp Limited is Tuesday, January 14, 2025.

What is the issue size of the Delta Autocorp IPO?

The issue size of the Delta Autocorp IPO is up to ₹54.60 crore, with a fresh issue of ₹50.54 crore and an offer for sale issue of ₹4.06 crore.

What are the open and close dates of the Delta Autocorp IPO?

The open and close dates for Delta Autocorp IPO are from January 2, 2025, to January 6, 2025.

What would be the listing gains on the Delta Autocorp IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Delta Autocorp IPO allotment?

1. Multiple Submissions: Use different Demat accounts to make multiple applications.
2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Delta Autocorp IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Delta Autocorp Limited using one PAN?

You can submit only one application using your PAN card.

How to read Delta Autocorp Limited's financial statements?

To read Delta Autocorp’s financial statements, download the IPO’s RHP document.

What is 'pre-apply' for Delta Autocorp Limited IPO?

Pre-apply allows investors to apply for the Delta Autocorp IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Delta Autocorp Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Delta Autocorp Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Delta Autocorp IPO?

Link Intime India Private Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Delta Autocorp IPO getting listed?

Delta Autocorp Limited IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).