Delta Autocorp was incorporated on May 20, 2016. The company manufactures and sells Electric 2W and 3W vehicles under the brand name "Deltic," using advanced components sourced from reputable OEMs based on custom design and engineering specifications. It supplies specific components compatible with its vehicles
| Bidding Dates |
|---|
| 07 Jan 2025 - 09 Jan 2025 |
| Subscription |
|---|
| 309x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,23,000 | 1 | 1 | 1000 | 4.2 M | ₹123 - ₹130 | 70.73 % | ₹516.6 M - ₹546.0 M | RHP DOC |
Delta Autocorp IPO SUBSCRIPTION STATUS
09 Jan '25Delta Autocorp IPO overall subscription rate was 309 times the total available shares
Delta Autocorp IPO retail subscription rate was 405.48 times in the retail segment
Delta Autocorp IPO non-institutional investor subscription rate was 806.93 times in the non-institutional investor category
Delta Autocorp IPO Qualified Institutional Bidder subscription rate was 92.09 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 Jan 2025 (Day 3) | 405.48x | 806.93x | 92.09x |
08 Jan 2025 (Day 2) | 125.32x | 51.76x | 1.4x |
07 Jan 2025 (Day 1) | 29.4x | 10.65x | 0.4x |
Delta Autocorp FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 7MFY25 | 48.1 | 451.8 | -53.9 | -62.5 | 14.8% |
| FY24 | 82.2 | 808.1 | 26.2 | 11.2 | - |
| FY23 | 51.3 | 800.2 | 50.3 | 48.9 | 9.7% |
| FY22 | 42.0 | 571.3 | -37.0 | -42.7 | 10.8% |
Delta Autocorp IPO SUBSCRIPTION STATUS DETAILS
Delta Autocorp had 4.2 M shares on offer
Delta Autocorp IPO offer price was in the range ₹123 - ₹130
Delta Autocorp IPO minimum Investment was ₹123000
Delta Autocorp IPO issue size was ₹ 516.6 M - ₹ 546.0 M
Delta Autocorp had a minimum lot size of 1000 Shares per application
Delta Autocorp NUMBER OF SHARES ON OFFER
Delta Autocorp IPO IMPORTANT DATES
| Issue Open Date | 07 Jan 2025 |
| Issue close Date | 09 Jan 2025 |
| Allotment Date | 10 Jan 2025 |
| Refund Date | 13 Jan 2025 |
| Demat Account Credit Date | 13 Jan 2025 |
| Listing Date | 14 Jan 2025 |
| Listing on Exchange(s) | NSE |
| Delta Autocorp Allotment Status | Exchange |
Delta Autocorp IPO subscription opened on 07 Jan 2025, and closed on 09 Jan 2025
IPO allotment for Delta Autocorp was finalized on Friday, 10 Jan 2025
IPO listing for Delta Autocorp was on NSE on Tuesday, 14 Jan 2025
Delta Autocorp IPO LISTING GAINS
| Issue Price (adjusted) | 130.0 |
| Listing Open Price | 175.0 |
| Listing Close Price | 167.3 |
| Listing Gain% | 34.6% |
| Current Gain% | -73.2% |
Delta Autocorp Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Delta Autocorp Ltd. | 34.9 | 53.4 | 7.7 | 0.6 | 8.6 | 7.7 | 82.7 | 6.9 | 4.5 | ||||
| Bajaj Auto Ltd. | 11662 | 325950.3 | 27.7 | 0.5 | 4.6 | 27.7 | 13.9 | 65087.2 | 24 | 10744.2 | 46.7 | 420.7 | 54.9 |
| Eicher Motors Ltd. | 8020 | 220162.6 | 38.1 | 2 | 8.8 | 22 | 17.1 | 24894.1 | 23.4 | 5515.2 | 16.5 | 210.3 | 19.3 |
| TVS Motor Company Ltd. | 4440.9 | 210981.4 | 61.6 | 1.4 | 3.5 | 31.6 | 5.3 | 56091.5 | 27 | 3018.3 | 35 | 72.1 | 43.7 |
| Hero MotoCorp Ltd. | 5725 | 114580.8 | 21 | 2.6 | 2.3 | 26.6 | 17.2 | 48469.4 | 15.5 | 5741.7 | 31.1 | 272.2 | 8.2 |
| Ather Energy Ltd. | 1481.5 | 58444.2 | -149.9 | -2.9 | 13.8 | -20.1 | -11 | 3823.1 | 65.8 | -517.2 | 36.3 | -9.9 | 51.7 |
Delta Autocorp INFORMATION ON IPO ISSUE
About Delta Autocorp
Delta Autocorp was incorporated on May 20, 2016. The company manufactures and sells Electric 2W and 3W vehicles under the brand name "Deltic," using advanced components sourced from reputable OEMs based on custom design and engineering specifications. It supplies specific components compatible with its vehicles
Object of the Issue
- 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
Delta Autocorp - PROMOTERS
| Name |
|---|
| Ankit Agarwal |
| Priyanka Agarwal |
| Sanwarmall Agarwalla |
Delta Autocorp Lead Manager of the Issue
GYR Capital Advisors Private Limited
info@gyrcapitaladvisors.com
Delta Autocorp Registrar to the issue
Link Intime India Private Limited
deltaauto.smeipo@linkintime.co.in
Delta Autocorp Strengths
Customer centric approach
The company is committed to understanding and meeting the unique needs of its customers, with product design shaped by valuable customer insights. The Customer Experience team engages with customers post-purchase, gathering feedback to create a close-knit community and improve the overall experience
In house research and development
The company’s business model emphasizes Research and Development (R&D) and in-house product innovation. Its R&D facility in Uttar Pradesh focuses on designing and developing new electric vehicle (EV) products, supported by a dedicated team of 15 employees analyzing customer needs
Expanding presence in Tier-2 & Tier-3 cities
The company has expanded its presence in the Indian market, with over 300 dealers across 25 states and union territories. Its strategic focus targets underserved tier-2 and tier-3 towns, where there is significant demand for premium yet affordable EV products
Delta Autocorp Risks
Risks of performance & quality standard
If the company’s electric vehicles contain defects, fail to meet industry standards, or do not perform as advertised, it could harm the brand's reputation and hinder the ability to develop, market, and sell vehicles. This could lead to product recalls, corrective actions, and potential legal consequences
Depend on distribution network
The company's business relies on its distribution network. Inability to expand or manage the network effectively, or disruptions in distribution, could negatively impact business, operations, financial condition, and cash flows
High Competition
The Indian automotive market is highly competitive, and the company may face challenges in competing successfully. Competitors may have greater financial resources, technical capabilities, and more developed marketing, distribution, and service networks, which could impact the company’s position in the market
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.1 crore, of 312,000 shares. It also consists of a fresh issue of Rs 50.5 crore.
The promoters of the company are Ankit Agarwal, Priyanka Agarwal and Sanwarmall Agarwalla.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 123.0 - 130.0.
The IPO application opens on Jan 07, 2025 and closes on Jan 09, 2025.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 123,000.0, the maximum value for this IPO is Rs 130,000.0.
This IPO will be allotted on Jan 10, 2025.
The refund will be credited to your account on Jan 13, 2025.
The allotted shares will be credited to your demat on Jan 13, 2025.
Delta Autocorp Ltd.’s shares listed on the stock exchanges on Jan 14, 2025.