Delta Autocorp is coming up with an IPO offering a fresh issue of 38,88,000 shares worth INR 50.54 crores and offers for sale its existing 3,12,000 shares worth INR 4.06 crores. The company aims to fund electric three-wheeler plant setup, new product development, working capital, and corporate purposes.
Delta Autocorp IPO – Important Dates
| Delta Autocorp IPO Date | January 7, 2025 to January 9, 2025 |
| Delta Autocorp IPO Listing Date | January 14, 2025 |
| Delta Autocorp IPO Price | INR 123-130 per share |
| Delta Autocorp IPO Lot Size | 1000 Shares |
| Delta Autocorp IPO Total Issue Size | INR 24.74 crores |
| Delta Autocorp IPO Basis of Allotment | January 7, 2025 |
| Delta Autocorp IPO Initiation of Refunds | January 6, 2025 |
| Delta Autocorp IPO Credit of Shares to Demat | January 8, 2025 |
| Delta Autocorp IPO Issue Type | Book Built Issue |
| Delta Autocorp IPO Listing At | NSE SME |
Read more about Delta Autocorp Limited IPO GMP
Delta Autocorp Limited IPO – Company Profile
Delta Autocorp manufactures and sells 2W & 3W EVs using cutting-edge components procured from reputed Original Equipment Manufacturers (OEMs) who use design & engineering specifications given by them.
The company operates under the brand name “Deltic”. Specialising in the production of Electric 2W and 3W vehicles, the journey began with the establishment of Delta Autocorp LLP in 2016 by their visionary promoter, Mr Ankit Agarwal.
Initially concentrating on the development of electric 3W prototypes, they marked a significant milestone in 2017 with the launch of its first E-Rickshaw, boasting an impressive mileage of over 150 Km.
Currently, the business operates through its wide network of dealers, and its focus is primarily on B2B transactions. They are working with a more than 300-strong distribution network spread across 25 states & Union Territories of India with a vision to become a global brand rooted in India.
Delta Autocorp Ltd IPO Fundamental Analysis
Delta Autocorp demonstrates profitability and equity growth but faces challenges in revenue expansion and rising leverage.
1. Revenue: Minimal growth in FY2024 suggests plateauing revenue, though H1 FY2025 performance reflects a steady continuation.
2. Equity and Liabilities: Equity growth demonstrates capital strengthening, likely from profit retention or external funding. The increase in liabilities is consistent with business expansion, impacting leverage ratios. A rising debt-equity ratio in FY2025 suggests increased borrowing.
3. Profitability: Significant PAT growth in FY2024 reflects improved profitability despite flat revenue. PAT for 7M FY2025 is already at 58.5% of FY2024’s total.
4. Earnings Per Share (EPS): EPS growth aligns with profitability trends, but lower 7M FY2025 EPS signals potential margin pressures.
5. Asset management: Consistent asset growth underpins operational scaling.
Delta Autocorp IPO Financial Analysis
| Particular | As of 31 March 2023 | As of 31 March 2024 | As of 31 October 2024 |
| Revenue (₹ in lakhs) | 8,001.98 | 8,081.29 | 4,517.92 |
| Equity (₹ in lakhs) | 1,141.48 | 1,789.29 | 2,270.10 |
| Expenses (₹ in lakhs) | 7,369.03 | 7,017.91 | 3,885.01 |
| Profit and Loss After Tax (₹ in lakhs) | 513.41 | 822.00 | 480.81 |
| RoNW (%) | 44.98 | 66.18 | 21.18 |
| Diluted EPS only (₹) | 9.25 | 14.83 | 4.22 |
| NAV per Equity Share (₹) | 20.57 | 15.69 | 19.91 |
| Total Assets (in lakhs) | 2,110.04 | 3,461.35 | 4,742.31 |
| Total Liabilities (in lakhs) | 968.56 | 1,672.06 | 2,472.21 |
| Debt Equity Ratio (in times) | 0.36 | 0.30 | 0.49 |
| Current Ratio (in times) | 2.57 | 2.20 | 1.99 |
Delta Autocorp Limited IPO Peer Comparison
Delta Autocorp, with a total income of ₹4,527.53 lakhs, shows a strong RoNW of 21.18% and an EPS of ₹4.22, outperforming Wardwizard Innovations, which reports ₹32,162.68 lakhs income, 13.79% RoNW, and ₹0.52 EPS.
| Company | Total Income (₹ in lakhs) | Face Value per Equity Share (₹) | P/E | EPS (₹) | RoNW (%) | NAV per Equity Share (₹) |
| Delta Autocorp (as of October 31, 2024) | 4,527.53 | 10 | NA | 4.22 | 21.18 | 19.91 |
| Wardwizard Innovations & Mobility Limited (as of March 31, 2024) | 32,162.68 | 1 | 72.80 | 0.52 | 13.79 | 3.88 |
Delta Autocorp Ltd IPO Objective
The main objective of Delta Autocorp is to establish an electric three-wheeler fabrication and painting plant, invest in new product development, and meet working capital requirements to support business growth and innovation.
- Setting up an Electric Three-Wheeler Fabrication Plant & Painting Plant: The company intends to deploy net proceeds aggregating up to INR 4.41 crores for setting up an Electric Three Wheeler Fabrication Plant & Painting Plant. The company plans to set up a facility for manufacturing electric three-wheelers fabrication and painting processes at its existing manufacturing unit.
- Investment in new product development: The company plans to utilise INR 21.32 crores for new product development, focusing on innovation, with a dedicated R&D team in Uttar Pradesh. It has developed 11 vehicles, phasing out three due to demand shifts.
- Funding of working capital requirement: The company aims to utilise INR 11.46 crores for working capital in FY 2024-2025 and FY 2025-2026, supporting model development and growth, alongside INR 10 crores sanctioned under fund-based facilities.
- General Corporate Purposes: The company will deploy funds for general corporate purposes, including investments aligned with its policy, addressing exigencies, paying salaries, and covering operational expenses to support overall business growth and stability.
Delta Autocorp IPO Risks And Challenges
Delta Autocorp’s risk includes potential defects in EVs harming reputation and revenue, challenges in developing new vehicles, competition, delays, technological obsolescence, and reliance on over 300 dealers, with key relationships crucial for financial stability.
- Any defects or operational failures in Electric Vehicles could harm the company’s reputation, cause revenue loss, lead to litigation, warranty claims, and significant expenses, adversely impacting business, financials, and prospects.
- The company’s growth depends on developing and delivering new EVs, requiring significant investment. Challenges like competition, delays, innovation risks, or outdated technology could harm market share, reputation, and financial performance.
- The company relies on over 300 dealers, with the top five dealers contributing significant revenue. Maintaining strong dealer relationships is critical to ongoing revenue generation, and losing any key dealers could negatively impact operations and financial performance.
Delta Autocorp Ltd IPO – Industry & Market Potential
India is a global leader in heavy vehicle production, with strong domestic demand and export growth. Government initiatives like the Automotive Mission Plan and incentives are expected to position India as a top automotive market by 2026.
Electric vehicle sales surged by 25% in Q1 2023, with global sales expected to reach 14 million by year-end. India, Thailand, and Indonesia saw significant growth, while India is poised to become the largest EV market by 2030.
The global two-wheeler market is expected to grow at an 8.7% CAGR, reaching $218 billion by 2029. While only 4% of two-wheelers in India were electric in 2021, 30% worldwide will be electric by 2030.
Delta Autocorp Limited IPO – Type of Offer
Delta Autocorp Limited plans a fresh issue of 38,88,000 shares, seeking INR 50.54 crores to fund electric three-wheeler plant setup, new product development, working capital, and corporate purposes. Additionally, the company proposes an offer to sell 3,12,000 existing shares worth INR 4.06 crores.
- Fresh Issue: The company will issue 38,88,000 new shares to raise capital, aiming to collect INR 50.54 crores. The company intends to utilise the proceeds from the fresh issue to fund electric three-wheeler plant setup, new product development, working capital, and corporate purposes.
- Offer for sale: Delta Autocorp Limited is offering to sell 2,12,000 existing shares worth INR 4.06 crores. The following are the details of the existing shareholder, who is also the promoter selling the shares:
| Name of the promoter selling shareholder | No. of shares offered |
| Ankit Agarwal | 3,12,000 |
Delta Autocorp IPO Offer Size
The offer size of Delta Autocorp Limited is INR 54.60 crores, consisting of a fresh issue of 38,88,000 shares worth INR 50.54 crores and offers for sale its existing 3,12,000 shares worth INR 4.06 crores. The company aims to fund electric three-wheeler plant setup, new product development, working capital, and corporate purposes.
Delta Autocorp Limited IPO Allotment Structure
Delta Autocorp Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 2,94,000 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 2,94,000 shares, are reserved for market makers.
How to apply for the Delta Autocorp IPO?
To apply for the Delta Autocorp Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Delta Autocorp Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Delta Autocorp Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Delta Autocorp IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Delta Autocorp Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Delta Autocorp Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Delta Autocorp Limited IPO:
● Registrar’s Website: Visit the website of Link Intime India Private Limited, the registrar of the Delta Autocorp Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Delta Autocorp Ltd IPO Offer Registrar
The registrar for the Delta Autocorp Limited IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park,
Lal Bhadur Shastri Marg,
Vikhroli (West), Mumbai 400 083,
Maharashtra, India
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Delta Autocorp IPO – FAQs
1. What is the allotment date of the Delta Autocorp IPO?
The allotment date of the Delta Autocorp is January 10, 2025.
2. What is the price band of the Delta Autocorp IPO?
The price band of the issue is INR 123-130 per share.
3. What is the size of the Delta Autocorp IPO?
The offer size of Delta Autocorp Limited is INR 54.60 crores, consisting of a fresh issue of 38,88,000 shares worth INR 50.54 crores and offers for sale its existing 3,12,000 shares worth INR 4.06 crores. The company aims to fund electric three-wheeler plant setup, new product development, working capital, and corporate purposes.
4. What is the listing date of the Delta Autocorp IPO?
The listing date of the Delta Autocorp is January 14, 2025.
5. Where is the Delta Autocorp IPO Getting Listed?
Delta Autocorp is getting listed on the National Stock Exchange (NSE) and the Small Medium Exchange (SME).
6. What are the open and close dates of the Delta Autocorp Limited IPO?
The open and close dates of Delta Autocorp Limited are January 7, 2025, and January 9, 2025.
7. How to apply for Delta Autocorp Ltd IPO in Alice Blue?
To apply for the Delta Autocorp Limited IPO via Alice Blue, open a Demat and trading account, check the IPO details, place your bid within the price band, submit your application, and check the allotment status after the process. Allotment depends on demand.
8. Who is the Book Runner for the Delta Autocorp IPO?
The Book Runner for Delta Autocorp is GYR Capital Advisors Private Limited.
