Delta Autocorp IPO

About Delta Autocorp IPO

Delta Autocorp Limited, operating under the brand name "Deltic," is a leading manufacturer and seller of Electric 2W and 3W vehicles. Founded in 2016 the company has focused on creating high-performance, affordable electric vehicles, ranging from e-rickshaws to electric scooters. Initially concentrating on the development of electric 3W prototypes, Deltic reached a significant milestone in 2017 with the launch of its first e-rickshaw, which achieved an impressive mileage of over 150 kilometers, revolutionizing the daily earnings of e-rickshaw drivers. Over time, the company has significantly enhanced its vehicle designs, improving aerodynamics, torque, durability, and gradability, thus meeting the diverse demands of the market.

Deltic's commitment to research and development has enabled continuous innovation, particularly in electric 2W vehicles. In 2018, the company embarked on the development of electric scooters, unveiling its first model in 2019. Understanding the unique needs of Indian customers, particularly in tier-2 and tier-3 cities, Deltic designed electric scooters that are affordable, durable, and suitable for Indian roads, featuring high ground clearance, ample footboard space, and comfortable seating. The company's strategic focus on cost-effective, user-friendly vehicles has made them a preferred choice for consumers looking for practical, reliable, and stylish electric vehicles.

In line with its dedication to sustainability, Deltic is transitioning to Lithium Ferro Phosphate (LFP) batteries from Nickel-Manganese-Cobalt (NMC) batteries to further enhance the longevity, cost efficiency, and safety of its vehicles. The company has continuously expanded its product offerings to include a diverse range of 2W and 3W electric vehicles, including e-scooters, e-rickshaws, electric loaders, and electric garbage carts. Additionally, Deltic supplies spare parts and accessories for these vehicles, such as motors, DC-DC converters, and speedometers, further reinforcing its comprehensive approach to the electric vehicle ecosystem.

Deltic ensures top-notch quality and performance. The company's robust B2B operations are supported by a vast network of over 300 dealers across 25 states and Union Territories of India. As Deltic aims to become a global brand, it remains focused on producing trendsetting, cost-effective products while fostering trust through exceptional after-sales service and a customer-centric approach. The company's vision of delivering practical and reliable electric vehicles continues to drive its success in the rapidly evolving electric mobility sector.

Delta Autocorp Limited prepares for its Initial Public Offering (IPO), the proceeds from the Fresh Issue will be allocated towards critical objectives:

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.