Delta Autocorp IPO Closed
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Schedule of Delta Autocorp
| Issue open date | 07 Jan 2025 |
| Issue close date | 09 Jan 2025 |
| UPI mandate deadline | 09 Jan 2025 (5 PM) |
| Allotment finalization | 10 Jan 2025 |
| Refund initiation | 13 Jan 2025 |
| Share credit | 13 Jan 2025 |
| Listing date | 14 Jan 2025 |
| Mandate end date | 24 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 09 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 10 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Delta Autocorp
Delta Autocorp, established in 2016, manufactures and sells Electric 2-wheelers (E2Ws) and Electric 3-wheelers (E3Ws) under the “Deltic” brand. The company uses high-quality components from reputed OEMs, tailored to its design and engineering specifications, and offers custom components to ensure compatibility and performance. With a network of over 300 dealers across 25 states and Union Territories in India, Delta Autocorp focuses primarily on B2B transactions. Its product lineup includes E2Ws like Deltic Drixx, Trento, ZGS, and Legion, and E3Ws such as Deltic Star, Vayu, Vista, and Garbo. The company also provides accessories and spare parts like motor controllers, wire harnesses, electric motors, speedometers, and DC-DC converters, serving the growing electric vehicle market.
Financials of Delta Autocorp
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹54.60 crores |
| Fresh Issue | ₹50.54 crores |
| Offer for Sale | ₹4.06 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Setting up an E3W Fabrication & Painting Plant | 4.42 (8.75%) |
| Investment in new product development | 21.32 (42.18%) |
| Working capital requirements | 11.46 (22.68%) |
| General corporate purpose | TBA |
Strengths
- Experienced promoters with 14+ years of industry expertise.
- Strong professional management team from top-tier institutions.
- Customer-centric approach with tailored product designs and insights.
- In-house R&D for innovation, ensuring product quality.
- Extensive dealer network across 25 states and territories.
- Focus on underserved tier-2 and tier-3 markets.
- Premium electric scooters with functional and affordable features.
- ISO-certified manufacturing and rigorous quality control standards.
- Diversified product portfolio spanning two- and three-wheelers.
Risks
- Defects in vehicles may harm reputation and require recalls.
- Dependence on supplier networks could disrupt production and delivery.
- New EV model development involves significant capital and cost risks.
- Failure to meet customer expectations may harm brand perception.
- Increased competition could impact market share and business growth.
- Regulatory changes could affect operations and financial performance.
- Inability to attract qualified personnel may hinder business expansion.
- Natural disasters or economic instability may disrupt supply chains.