IPO Insights

Delta Autocorp IPO

NiftyTrader • January 3, 2025

Delta Autocorp IPO opens for subscription on January 7, 2025 and closes on January 9, 2025. The allotment for the Delta Autocorp IPO is expected to be finalized on Friday, January 10, 2025. Delta Autocorp IPO will list on NSE SME with tentative listing date fixed as Tuesday, January 14, 2025.

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 price band is set at ₹123 to ₹130 per share. The minimum lot size for an application is 1000. The minimum amount of investment required by retail investors is ₹1,30,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹2,60,000.

Delta Autocorp IPO Details

IPO DateJanuary 7, 2025 to January 9, 2025
Listing Date[.]
Face Value₹10 per share
Price₹123 to ₹130 per share
Lot Size1,000 Shares
Total Issue Size42,00,000 shares
(aggregating up to ₹54.60 Cr)
Fresh Issue38,88,000 shares
(aggregating up to ₹ 50.54 Cr)
Offer for Sale3,12,000 shares of ₹10
(aggregating up to ₹4.06 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Shareholding pre-issue1,14,01,698 shares
Share Holding Post Issue1,52,89,698 shares
Market Maker Portion2,94,000 shares

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.

ApplicationLotsSharesAmount
Retail (Min)11000₹1,30,000
Retail (Max)11000₹1,30,000
S-HNI (Min)22000₹2,60,000

Delta Autocorp IPO Objectives

The objects of the Offer are:

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

About Delta Autocorp

Incorporated in 2016, Delta Autocorp 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

Delta Autocorp Financial Information 

Period Ended31 Oct 202431 Mar 202431 Mar 202331 Mar 2022
Assets4,742.313,461.352,110.042,031.61
Revenue4,527.538,116.738,055.865,753.41
Profit After Tax480.81822513.41420.34
Net Worth2,270.113,031.911,141.48688.82
Reserves and Surplus1,129.931,758.47
Total Borrowing1,120.311,003.3413.6733.57
Amount in ₹ Lakhs

Delta Autocorp IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50% of the Net Issue
Retail Shares OfferedNot less than 35% of the Net Issue
NII (HNI) Shares OfferedNot less than 15% of the Net Issue

Delta Autocorp IPO Timeline (Tentative Schedule)

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

IPO Open DateTuesday, January 7, 2025
IPO Close DateThursday, January 9, 2025
Basis of AllotmentFriday, January 10, 2025
Initiation of RefundsMonday, January 13, 2025
A credit of Shares to DematMonday, January 13, 2025
Listing DateTuesday, January 14, 2025
Cut-off time for UPI mandate confirmation5 PM on January 9, 2025

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