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Delta Autocorp IPO
Delta Autocorp Ltd
₹1,23,000 /1000 sharesMinimum Investment
Delta Autocorp IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹130.00 | ₹175.00 | ₹45.00 (34.62%) |
Delta Autocorp IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 Jan ‘25 - 9 Jan ‘25 | ₹1,23,000 | 1,000 | ₹123 - ₹130 |
| Issue Size | IPO Doc |
|---|---|
| 54.60Cr | RHP PDF |
Subscription rate
As of 09 Jan'25, 05:00 PM
| Qualified Institutional Buyers | 178.64x |
| Non-Institutional Investor | 624.36x |
| Retail Individual Investor | 308.54x |
| Total | 306.30x |
About Delta Autocorp
Founded in
2016
Managing director
Mr. Ankit Agarwal
Parent organisation
Delta Autocorp Ltd
Strengths & Financials of Delta Autocorp
Strengths
Risks
The company claims that Delta Autocorp has enhanced the torque, strength, and durability of its e-rickshaws through the use of advanced metallurgy. Also, the vehicles now feature improved gradability ranging from 7 to 10 degrees, aligning with the evolving needs of the market.
To prioritise longevity, cost efficiency, and customer safety, the company is transitioning from nickel-manganese-cobalt (NMC) batteries to lithium ferro phosphate (LFP) batteries.
Delta Autocorp’s manufacturing facility for e-scooters and e-rickshaws is ISO 9001:2015 certified for quality management systems. All vehicles are tested and approved by respected national agencies such as the International Centre for Automotive Technology (ICAT), Manesar, and the Central Institute of Road Transport (CIRT), Pune.
The company operates through an extensive network of dealers and is primarily focused on B2B transactions. Its distribution network comprises over 300 dealers, covering 25 states and union territories across India.
The company has seen a consistent increase in profit after tax (PAT). PAT increased from Rs 4.20 crore in FY22 to Rs 5.13 crore in FY23 to Rs 6.96 crore in FY24.
Delta Autocorp relies on its dealers for the sale of its products. The percentage of total revenue generated from the top five dealers was 19.99% in FY22, 17.20% in FY23, 21.80% for the period from April 1, 2023, to July 20, 2023, 9.05% from July 21, 2023, to March 31, 2024, and 36.30% for the period from April 1, 2024, to October 31, 2024. The loss of any of these dealers could adversely affect the company’s business operations and financial performance.
The company’s operations depend on its distribution network. Any challenges in expanding, managing, or disruptions within this network could adversely impact its operations and finances.
The company is currently involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
If the company’s EVs fail to meet performance standards, contain defects, or do not align with advertised expectations, it could harm its brand reputation and sales. This may lead to product recalls, corrective actions, or even legal proceedings.
As of October 31, 2024, the company’s total outstanding borrowings amounted to Rs 11.20 crore. Any inability to repay or service these loans could adversely affect the company’s financial position.
Delta Autocorp Financials
*All values are in Rs. Cr
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Application Details of Delta Autocorp IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹123 - 130 | ₹2 - 5 Lakh |
| High Networth Individual | ₹123 - 130 | ₹2 - 5 Lakh |
For Delta Autocorp IPO, eligible investors can apply as Regular.