Delta Autocorp came to market through an SME IPO that opened on 7 January 2025 and closed on 9 January 2025, and the shares listed on 14 January 2025 on NSE SME. The price band was ₹123 to ₹130 per share and one lot was 1000 shares, so the minimum application was ₹1,30,000. The issue size was ₹54.6 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Link Intime India Private Ltd was the registrar to the issue, and GYR Capital Advisors Private Limited was the lead manager.
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Incorporated in 2016, Delta Autocorp Limited is involved in the activity of manufacturing & selling of 2-wheelers & 3-wheelers EVs. The Company operates under the brand name Deltic. The first few years, they concentrated themselves on developing electric 3-wheelers prototypes; significant moment was marked in 2017 when they launched their first E-Rickshaw, which had over 150 Km mileage.
In an attempt to fulfill the changing tastes of customers, along with analysis of market trends, the company ventured into developing electric 2W vehicles. Beginning prototype development in 2018, the company launched affordable durable scooters to tier-2 and tier-3 towns during 2019. It deals through a chain of more than 300 dealers across 25 states and Union Territories. The aim is to emerge as a brand that has cost-effective, practical products with 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.
As described in the offer document.
Mr. Ankit Agarwal, Mrs. Priyanka Agarwal, Mr. Sanwarmall Agarwalla. Promoter holding 97.59% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Delta Autocorp IPO was a ₹54.6 crore book-built issue, comprising a fresh issue of ₹50.54 crore and an offer for sale of ₹4.06 crore. It was priced at ₹123–₹130 per share with a lot size of 1,000 shares (₹1,30,000). The IPO was open from January 7 to January 9, 2025. Shares listed on NSE SME on January 14, 2025 at ₹175, a 34.6% premium to the issue price of ₹130. Link Intime India Private Ltd is the registrar.
GYR Capital Advisors Private Limited is the book running lead manager.
The price band of Delta Autocorp IPO is ₹123 to ₹130 per share.
The lot size of Delta Autocorp IPO is 1000 shares.
The minimum investment for Delta Autocorp IPO is approximately ₹1,30,000 based on the upper price band.
The allotment date of Delta Autocorp IPO is Jan 10, 2025.
Delta Autocorp IPO's final recorded GMP before listing was ₹105 per share (a 81% premium over the ₹130 upper price band). The shares listed at ₹175. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Delta Autocorp IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Delta Autocorp IPO allotment status on Rupix for quick and easy access.
₹123 to ₹130 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,30,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,30,000, for one lot of 1000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 7 January 2025 and closed on 9 January 2025.
The basis of allotment was published on 10 January 2025 by Link Intime India Private Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 January 2025 on NSE SME.
The issue size was ₹54.6 crore. The fresh issue was 38,88,000 shares (aggregating up to ₹50.54 crore). The offer for sale was 3,12,000 shares (aggregating up to ₹4.06 crore).