Delta Autocorp IPO Details
The key details of Delta Autocorp’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹54.60 Cr |
| Price Range | ₹123 - ₹130 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 1000 |
| Investment (cut-off price) | ₹1,30,000 |
| Pre IPO Promotor Holding | 97.62% |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Delta Autocorp IPO Timelines
The IPO process for Delta Autocorp includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
07/01/2025
Start Date09/01/2025
End Date13/01/2025
Refund Initiation13/01/2025
Credit of Shares to Demat Ac14/01/2025
Listing DateDelta Autocorp IPO Lot Size
The Delta Autocorp IPO has a fixed lot size of 1,000 shares, at an upper price band of ₹130 per share, requiring ₹130,000 per lot for retail investors. For HNI investors, the minimum application is 2,000 shares (2 lots) amounting to ₹260,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1000 | ₹1,30,000 |
| Retail Maximum | 1 | 1000 | ₹1,30,000 |
| HNI Minimum | 2 | 2000 | ₹2,60,000 |
Delta Autocorp IPO Subscription Status
The subscription status for Delta Autocorp IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 178.64x | 624.28x | 314.33x | -- | 342.10x |
IPO Performance on Listing Day
On the listing day (January 14, 2025), Delta Autocorp made a disappointing debut on the stock exchange. The stock opened at ₹175, recording a significant discount of 39.7% from its issue price of ₹290. During the trading session, despite a brief recovery that took it to a high of ₹183.75, the stock remained under pressure, testing a low of ₹166.25. The shares ended their first trading day at ₹167.25, closing with a substantial loss of 42.3% from the issue price, indicating weak market sentiment towards this automotive sector player.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹175.00 | ₹167.25 | ₹183.75 | ₹166.25 |
Delta Autocorp IPO Company Financials
Delta Autocorp reports robust performance in FY2023 with Total Income of ₹80.02 crores, managing expenses at ₹73.69 crores, and achieving a strong PAT (Profit After Tax) of ₹5.13 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2021 | 16.67 | 16.19 | 0.42 |
| FY 2022 | 57.13 | 51.89 | 4.20 |
| FY 2023 | 80.02 | 73.69 | 5.13 |
About Company
Delta Autocorp, established in 2016 by visionary promoter Mr. Ankit Agarwal, specializes in the manufacture and sale of electric 2W and 3W vehicles under the brand name Deltic. The company began by focusing on electric 3W prototypes and achieved a significant milestone in 2017 with the launch of their first E-Rickshaw, offering a mileage of over 150 km. This product greatly enhanced earnings for E-Rickshaw drivers. Over time, the company has enhanced its product line, including improvements in aerodynamic structure, torque, strength, and gradability, to meet the evolving demands of the market. Delta Autocorp now manufactures and supplies specific components for their vehicles, utilizing cutting-edge technology and components from reputed Original Equipment Manufacturers (OEMs).
Delta Autocorp’s product range includes electric 2W scooters, such as the Deltic Drixx and Deltic Trento, and electric 3W vehicles like the Deltic Star, Deltic Vayu, and electric loaders and garbage carts. The company also produces spare parts and accessories for both 2W and 3W vehicles, such as controllers and motors. With over 250 dealers across 24 states and Union Territories, the company primarily focuses on B2B transactions and aims to become a global brand known for cost-effective and practical products. Delta’s in-house Research and Development (R&D) department, located in Uttar Pradesh, plays a crucial role in designing innovative products tailored to customer needs. As of January 2024, Delta Autocorp employs 141 individuals.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2023 | Automobile & Ancillaries | Ankit Agarwal |
Know Before Investing
Delta Autocorp IPO Strengths
- The company is virtually debt-free, providing a strong financial foundation for growth and stability.
- Delta Autocorp boasts an efficient cash conversion cycle of zero days, indicating effective management of working capital.
- The company specializes in electric three-wheelers and related components, catering to the growing demand for eco-friendly transportation solutions.
- Proceeds from the IPO will fund the establishment of fabrication and painting plants, enhancing production capabilities.
- Led by a team with significant industry experience, the company is well-positioned to navigate market challenges and drive growth.
Delta Autocorp IPO Risks
- As a newly listed company, Delta Autocorp has insufficient historical financial data available for investors to evaluate long-term performance.
- The company’s focus on electric three-wheelers exposes it to market volatility and regulatory changes in the EV sector.
- Plans to establish new fabrication and painting plants carry risks related to project execution, timelines, and budget overruns.
- The electric vehicle market is highly competitive, which may pressure pricing and affect profitability.
- Demand for vehicles can be sensitive to economic conditions, potentially impacting sales and revenue stability.
Swot Analysis for Delta Autocorp IPO
Strengths
Innovative electric vehicles, Strong manufacturing capabilities, Diverse product range
Weaknesses
Limited brand recognition, Dependence on domestic market, Recent market entry
Opportunities
Growing EV demand, Government incentives for electric vehicles, Market expansion potential
Threats
Intense competition in automotive sector, Economic volatility risks, Regulatory compliance challenges
Company Details
Delta Autocorp Limited
Plot No 304 P,
Pithakiarypost-Rupnarayanpur,
Bardhaman, West Bengal, 713386
Phone: +91 8448223541
Email: compliance@deltic.co
Website: http://www.deltic.co/
IPO Registar Details
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: deltaauto.smeipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
The key objectives of Delta Autocorp IPO are:
- Funding of Expenditure for Electric Three-Wheeler Plant
- Investment in New Product Development
- Funding of Working Capital Requirement
- General Corporate Purposes
- To Meet Offer Expenses
GYR Capital Advisors Private Limited is the book-running lead managers for the Delta Autocorp IPO.