Delta Autocorp, a prominent player in India’s electric vehicle (EV) sector, has witnessed an overwhelming response to its Initial Public Offering (IPO) on 7 January 2025. Delta Autocorp IPO subscription reached 100% level within the first hour of opening, underscoring robust investor confidence in the company’s growth trajectory and the expanding EV market.
Delta Autocorp IPO Details and Structure
The IPO, open from 7 January to 9 January 2025, has been priced between INR 123 and INR 130 per share. It comprised a fresh issue of 38,88,000 shares, aimed at raising capital for business expansion, and an offer for sale of 3,12,000 shares by promoter Ankit Agarwal. The total issue size is approximately INR 54.60 crore. The shares are scheduled to be listed on NSE EMERGE on 14 January 2025.
Delta Autocorp IPO Subscription – Live Updates
The IPO has met with significant enthusiasm across all investor categories:
*The market maker reservation portion of 2,94,000 shares and anchor investor portion of 11,70,000 shares are not included in the above calculations.
Company Overview
Established in 2016, Delta Autocorp specializes in manufacturing and selling electric two-wheelers and three-wheelers under the brand name “Deltic.” The company utilizes advanced components sourced from reputable Original Equipment Manufacturers (OEMs), adhering to high design and engineering standards through a state-of-the-art manufacturing process. Deltic focuses on producing specific components compatible with its vehicles, ensuring quality and performance.
Financial Performance
In the financial year 2024, Delta Autocorp reported a revenue of INR 3,001.88 crore, marking its highest ever recorded. The company achieved an EBITDA growth of 41% to INR 961.53 crore and a net profit growth of 45% to INR 610.12 crore. The Earnings Per Share (EPS) stood at INR 61.01, underscoring its profitability and operational efficiency.
Market Outlook
The Indian EV market is projected to grow at a compound annual growth rate (CAGR) of over 36% by 2030, driven by government incentives such as FAME-II subsidies and infrastructure support for charging stations. Delta Autocorp’s focus on affordable pricing and high-quality builds positions it competitively in this fast-growing sector. As more cities enforce regulations for eco-friendly transportation, the demand for electric rickshaws and two-wheelers is expected to soar, creating ample opportunities for the company.
Conclusion
The rapid full subscription of Delta Autocorp’s IPO within an hour of opening highlights the strong investor confidence in the company’s business model and the promising future of the electric vehicle industry in India. With plans to utilize the raised capital for expanding manufacturing capabilities and enhancing product development, Delta Autocorp is well-positioned to capitalize on the growing demand for sustainable transportation solutions.
