Bookbuilding IPO | ₹55 Cr | Listed at NSE SME | Tue, Jan 7, 2025 - Thu, Jan 9, 2025
Delta Autocorp IPO is a book build issue of ₹54.60 crores. The issue is a combination of fresh issue of 0.39 crore shares aggregating to ₹50.54 crores and offer for sale of 0.03 crore shares aggregating to ₹4.06 crores.
Delta Autocorp IPO bidding started from Jan 7, 2025 and ended on Jan 9, 2025. The allotment for Delta Autocorp IPO was finalized on Jan 10, 2025. The shares got listed on NSE SME on Jan 14, 2025.
Delta Autocorp IPO price band is set at ₹130 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,30,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,60,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Delta Autocorp IPO RHP for detailed Information.
IPO Open
Tue, Jan 7, 2025
IPO Close
Thu, Jan 9, 2025
Issue Price
₹130 per share
Market Cap (Pre-IPO)
₹198.77 Cr
| IPO Date | 7 to 9 Jan, 2025 |
| Listed on | Tue, Jan 14, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹123 to ₹130 |
| Issue Price | ₹130 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 42,00,000 shares (agg. up to ₹55 Cr) |
| Reserved for Market Maker | 2,94,000 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 35,94,000 shares (agg. up to ₹47 Cr) |
| Offer for Sale | 3,12,000 shares of ₹10 (agg. up to ₹4 Cr) |
| Net Offered to Public | 39,06,000 shares (agg. up to ₹51 Cr) |
| Share Holding Pre Issue | 1,14,01,698 shares |
| Share Holding Post Issue | 1,52,89,698 shares |
| NSE Symbol | DELTIC |
| ISIN | INE0XRN01019 |
Delta Autocorp IPO comprises a total issue size of 42,00,000 shares. The net offer to the public is 39,06,000 shares, after excluding 2,94,000 shares allotted on a firm basis. Of the Net offer 19,51,000 (49.95%) are allocated to QIB, 5,87,000 (15.03%) allocated to NII 13,68,000 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 19,51,000 | 49.95% | 46.45% |
| − Anchor Investor Shares Offered | 11,70,000 | 27.86% | |
| − QIB (Ex. Anchor) Shares Offered | 7,81,000 | 18.60% | |
| NII (HNI) Shares Offered | 5,87,000 | 15.03% | 13.98% |
| Retail Shares Offered | 13,68,000 | 35.02% | 32.57% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,94,000 | 7.00% | |
| Total Shares Offered | 42,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| 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 raises ₹15.21 crore from anchor investors. Delta Autocorp IPO Anchor bid date is January 6, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Jan 6, 2025 |
| Shares Offered | 11,70,000 |
| Anchor Portion (₹ Cr.) | 15.21 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Feb 8, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Apr 9, 2025 |
Incorporated in 2016, Delta Autocorp Limited 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:
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:
| Period Ended | 31 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 47.42 | 34.61 | 21.10 | 20.32 |
| Total Income | 45.28 | 81.17 | 80.56 | 57.53 |
| Profit After Tax | 4.81 | 8.22 | 5.13 | 4.20 |
| NET Worth | 22.70 | 30.32 | 11.41 | 6.89 |
| Reserves and Surplus | 11.30 | 17.58 | ||
| Total Borrowing | 11.20 | 10.03 | 4.14 | 7.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Expenditure towards Setting up an Electric Three-Wheeler Fabrication Plant & Painting Plant; | 4.42 |
| 2 | Investment in New Product Development | 21.32 |
| 3 | Funding of working capital requirement | 11.46 |
| 4 | General corporate purposes | 9.35 |
| KPI | Mar 31, 2023 |
|---|---|
| ROE | 23.69% |
| ROCE | 19.32% |
| Debt/Equity | 0.49 |
| RoNW | 21.18% |
| PAT Margin | 10.64% |
| Price to Book Value | 6.53 |
The finances are segregated for the period from 1st April 2024 to 31st October 2024, and for the period from 21st July 2023 to 31st March 2024. As these are not annualized, the KPIs have been updated based on the latest financial period from 1st April 2024 to 31st October 2024.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.21 | 5.39 |
| P/E (x) | 18.03 | 24.11 |
| Promoter Holding | 97.59% | 72.76% |
| Market Cap | ₹198.77 Cr. |
The Delta Autocorp IPO is subscribed 342.1 times on January 9, 2025 6:19:58 PM (Day 3). The public issue subscribed 314.33 times in the retail category, 178.64 times in the QIB category, and 624.28 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 178.64 | 7,81,000 | 13,95,16,000 | 112 |
| NII* | 624.28 | 5,87,000 | 36,64,55,000 | 28,501 |
| Retail | 314.33 | 13,68,000 | 43,00,04,000 | 4,30,004 |
| Total | 342.1 | 27,36,000 | 93,59,75,000 | 4,58,617 |
Total Application : 4,58,617
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 3.00 |
| 2 | Advertising and Marketing Expenses | 0.10 |
| 3 | Fees payable to the stock exchange(s) | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.05 |
| 5 | Brokerage and Selling Commission | 0.25 |
| 6 | Other Expenses (Banker’s to the Offer, Auditor’s Fees etc.) | 0.55 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹130.00 |
| Open | ₹175.00 |
| Low | ₹166.25 |
| High | ₹183.75 |
| Last Trade | ₹167.25 |
Lead Manager Reports
Delta Autocorp IPO is a SME IPO of 42,00,000 equity shares of the face value of ₹10 aggregating up to ₹55 Crores. The issue is priced at ₹130 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Jan 7, 2025, and closes on Thu, Jan 9, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Delta Autocorp IPO using UPI as a payment gateway. Zerodha customers can apply in Delta Autocorp IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Delta Autocorp IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Delta Autocorp IPO opens on Tue, Jan 7, 2025 and closes on Thu, Jan 9, 2025.
Delta Autocorp IPO lot size is 1000, and the minimum amount required for application is ₹1,30,000.
You can apply in Delta Autocorp IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Delta Autocorp IPO will be done on Friday, January 10, 2025, and the allotted shares will be credited to your demat account by Mon, Jan 13, 2025. Check the Delta Autocorp IPO allotment status.
The Delta Autocorp IPO listing date is on Tue, Jan 14, 2025.
