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Delta Autocorp IPO
Price Band
₹123.0–130.0
Issue Size
₹54.6 Cr
Lot Size
1,000 shares
Min Investment
₹130,000
GMP
+₹105.0 (80.77%)
Issue Price
₹130.0
Subject to Sauda
₹79800
Paid only if allotted
Delta Autocorp IPO AI Summary
- Delta Autocorp IPO is listed on NSE SME in the 2/3 Wheelers sector.
- Price band: ₹123.0–₹130.0 per share, lot size 1,000 shares (min. investment ₹130,000).
- Subscription window: 07 Jan–09 Jan 2025, listing on 14 Jan 2025.
- Current GMP is +₹105.0 (80.77%), an estimated listing price of ₹235 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Delta Autocorp IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Jan 2025 — not a current signal.
5 of 5 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Delta Autocorp IPO Grey Market Premium (GMP) Today
GMP
+₹105.0
GMP %
+80.77%
Est. Listing
₹235.0
Updated: 25 Jul 2026 14:15
About the Company
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: Electric 2W scooters: Deltic Drixx, Deltic Trento Electric 3W rickshaws: Deltic Star, Deltic Vayu Electric 3W loaders Electric 3W garbage carts Spare parts and accessories for 2W and 3W vehicles: 3W Controller, 3W Motor 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: Experienced Promoters and Management Team Customer Centric Approach In house Research and Development of Products Cracking the distribution model Tapping into the mass premium segment Quality Standard Certifications & Quality Tests Diversified product range
Company Financials (₹ Cr)
As of 2024-10-31
| 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 |
Key Ratios
EPS
₹7.21
NAV
₹19.91
ROE
23.69%
ROCE
19.32%
RoNW
21.18%
P/B Value
6.53
P/E Ratio
18.03
Market Cap
₹198.77 Cr
PAT Margin
10.64%
Debt/Equity
0.49
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Wardwizard Innovations & Mobility Limited | 3.88 | 13.79% | 72.8 | 0.52 | 0.52 |
| Delta Autocorp Limited This IPO | 19.91 | 21.18% | — | 4.22 | 4.22 |
Promoters
Ankit Agarwal, Priyanka Agarwal and Sanwarmall Agarwalla
Objects of the Issue
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 5 Issue Expenses 4.00 Total 50.54
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income for Delta Autocorp was ₹80.56 Cr for the period ending 31 Mar 2023, slightly decreasing to ₹81.17 Cr by 31 Mar 2024. However, for the most recent period ending 31 Oct 2024, total income fell to ₹45.28 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax (PAT) was ₹4.20 Cr for the period ending 31 Mar 2022, increasing to ₹5.13 Cr by 31 Mar 2023. This rose to ₹8.22 Cr by 31 Mar 2024, but then decreased to ₹4.81 Cr for the period ending 31 Oct 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Delta Autocorp's implied P/E at the issue price is approximately 18.03, compared to peers trading at a P/E of 72.8.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the demand for an IPO before it lists on the stock exchange. A high GMP suggests strong interest and potential for listing gains, while a low or negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their risk tolerance and market conditions. It's important to consider the company's growth potential and financial health.
Who May Want to Wait
Investors who prefer stable, established companies with a proven track record may want to avoid IPOs like this, which can be more volatile and carry higher risks.
IPO Timeline, Explained
The IPO opens on January 7, 2025, and closes on January 9, 2025. Allotment of shares will be on January 10, 2025, with the listing date set for January 14, 2025.
Listing Gains — The Risk
Listing gains are not guaranteed and can vary based on market conditions. Investors should be aware that even if an IPO has a high GMP, the actual listing price can fluctuate significantly on the day of trading.
This evaluation is generated from Delta Autocorp's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Delta Autocorp IPO GMP today?
Delta Autocorp IPO GMP today is +₹105.0 (80.77%), indicating an estimated listing price of ₹235. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Delta Autocorp IPO?
The price band of Delta Autocorp IPO is ₹123.0–₹130.0 per share.
When does Delta Autocorp IPO open and close?
Delta Autocorp IPO opens on 07 January 2025 and closes on 09 January 2025.
When does Delta Autocorp IPO list on the stock exchange?
Delta Autocorp IPO listed on 14 January 2025 at ₹235.0.
What is the lot size for Delta Autocorp IPO?
The lot size for Delta Autocorp IPO is 1000 shares, requiring a minimum investment of ₹130,000.
What is the price band for the Delta Autocorp IPO?
The price band for the Delta Autocorp IPO is ₹123 to ₹130.
What is the minimum investment required?
The minimum investment required is ₹130,000, which corresponds to a lot size of 1,000 shares.
When does the IPO open and close?
The IPO opens on January 7, 2025, and closes on January 9, 2025.
What does GMP stand for?
GMP stands for Grey Market Premium, which indicates the demand for an IPO before it officially lists.
When will the shares be listed?
The shares are expected to be listed on January 14, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Jan 2025
Close
09 Jan 2025
Allotment
10 Jan 2025
Listing
14 Jan 2025
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