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Delta Autocorp listing Review

The shares issued at Rs. 130 are listed at Rs. 175, 34.62% premium over the issue price. The listing has been very much below the expectations of the grey market.

Delta Autocorp IPO allotment Link

What was the last grey market premium of Delta Autocorp IPO?

Rs. 105

Subscription status of Delta Autocorp IPO

Delta Autocorp IPO
(Closed on 9 Jan 2025)

Price Rs. 130 Lot 1000 shares, Rs. 54.60 Crore

QIB NII x RII x Total x Applications
178.64 624.28 314.33 342.10 4,58,617
Amount wise bids recd. Rs. ? Crore
Note: 

What is the business of Delta Autocorp IPO?

The company manufactures and sells 2W & 3W EVs using cutting edge components procured from reputed Original Equipment Manufacturers (OEMs) who use design & engineering specifications given by us using state-of-the art manufacturing process. It supplies specific components designed and compatible for the vehicles. The Company operating under the brand name “Deltic”. Specializing in the production of Electric 2W and 3W vehicles, its journey began with the establishment of Delta Autocorp LLP in 2016 by its visionary promoter Mr. Ankit Agarwal. Initially concentrating on the development of electric 3W prototypes, it marked a significant milestone in 2017 with the launch of our first E-Rickshaw, boasting an impressive mileage of over 150 Kms. This not only contributed in its successful launch but also enabled E-Rickshaw drivers to enhance their daily earnings significantly.

After observing market dynamics and adapting to changing customer preferences, it strategically broadened its product range to include electric 2W vehicles. The year 2018 saw the commencement of prototype development for electric 2W, and in 2019, the company unveiled its inaugural electric 2W model.

Its Manufacturing facility of E-scooters and E-rickshaws is ISO 9001:2015 certified by an internationally recognized organization and all its vehicles are tested and approved by reputed national agencies like The International Centre for Automotive Technology (ICAT), Manesar and Central Institute of Road Transport (CIRT), Pune.

Currently, its business operates through its wide network of dealers, and at present, its focus is primarily on B2B transactions. It is working with a more than 250 strong distribution network spread across 24 states & Union Territories of India.

Get more information about the company @ www.deltic.co

Delta Autocorp IPO Details

IPO opens on  7 January 2025
IPO closes on  9 January 2025
Issue Type Book Built Issue IPO
Issue Size 4200,000 Shares /
Rs 54.60 Crore
* Fresh Issue 3888,000 Shares /
Rs 50.44 Crore
* Offer for Sale – 312000 shares /
Rs. 4.06 crore
Market Maker Portion 294,000 Shares
Net offer to Public 3906000 Shares/
Rs.50.78 Crore
Face Value per share Rs. 10
Price Band Rs. 123-130
Employee discount  Rs. 0 per share
Retail Lot Size  1000 Shares
Listing will at  NSE SME

Shares offered in IPO

  Shares Rs. (Crore)
QIB (50%) 1953000 25.39
HNI (15%)   585900   7.62
RII  (35%) 1367100 17.77
Total Shares  3906000 50.78
Retail portion will be
oversubscribed by 
1367
Forms
How much Shares to Apply in this IPO?
Min Retail Application 1000 Shares Rs.130000
Min HNI Application  3000 Shares Rs. 260000

Who are the Promoters of Delta Autocorp?

The Promoters of the company are ANKIT AGARWAL , MRS. PRIYANKA AGARWAL AND MR. SANWARMALL AGARWALLA

What are the Objects of Parmeshwar Metal IPO?

The Offer comprises of fresh issue of shares.

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

1.Funding of Expenditure towards Setting up an Electric Three-Wheeler Fabrication Plant & Painting Plant;
2. Investment in New Product Development
3. Funding of working capital requirement
4. General Corporate Purposes
5. To meet out the Offer Expenses.

Tentative timetable

IPO opens on 7 January 2024
IPO Closes on 9 January 2025
IPO Allotment on  10 January 2025
Refund Initiation  13 January 2025
Credit of Shares 13 January 2025
Listing on 14 January 2025
Registered Office of the Company

Plot No 304 P, Pithakiarypost
Rupnarayanpur, Bardhaman,
West Bengal, India, 713386

Who is the Lead Manager of this IPO?
GYR Capital
 Advisors Pvt ltd

Who is the Registrar to IPO?
Link Intime India Pvt ltd

Delta Autocorp IPO GMP grey market premium, review, Subscription, allotment, listing estimate

Delta Autocorp IPO Financial & Analytical Ratios

Year Total
Income
Net
Profit
EPS RoNW
  Rs.in Crore Rs.in Crore Rs. %
2021-22 57.53 4.20    
2022-23 80.56 5.13    
2023-24 81.17 8.22 7.21 21.18
Book Value of the
Share on 31.03.2024
       
BV of the Share at
cap price after IPO
Rs.      
Offer Price/upper band Rs. 130    

Key Performance
indicators

Price/EPS of 23-24 18.03
Price/BV Ratio 6.53
Debt/Equity Ratio 0.49


How Delta Autocorp IPO
compares with the Peers?

As on date of RHP FV PBV  PE
  Rs. Ratio Ratio of
Delta Corp 10 6.53 18.03
Wardwizard   12.33 72.80
       
       
       
       

# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

Delta Autocorp IPO Review by Paresh Gordhandas, CA & Research Analyst.

The company manufactures and sells 2W & 3W EVs using cutting edge components procured from reputed Original Equipment Manufacturers (OEMs) who use design & engineering specifications given by us using state-of-the art manufacturing process.

The company has impressive track record of total income and net profits. The EV 2 wheeler market has turned highly competitive with the players like Ola Electric, Bajaj EV, TVS electric etc and yet small players like Delta Corp have captured small segment of this market.

The shares are offered at attractive valuation and leaves room for listing gains as well as long term returns. The lead manager: GYR Capital Advisors Pvt ltd has impressive track record of positive listings. The premium to offer price ratio at present is good.

+ from fundamental angle: Apply
+ from grey market angle: Apply

Quicklinks


Delta Autocorp
 IPO GMP today allotment, review?

Delta Autocorp IPO GMP grey market premium

Parmeshwar Metal

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