Business
Manthra Koliyer By Manthra KoliyerOn 17 Jun, 2022
By Manthra KoliyerOn 17 Jun, 2022
Delta Corp’s Gaming Unit Files For ₹550 Crore IPO
On 16th June, Delta Corp’s gaming unit, Deltatech Gaming filed a draft red herring prospectus with India’s Securities and Exchange Board (SEBI) for a ₹550 Crore initial public offering (IPO). As per this offer made by Deltatech Gaming, fresh issue of shares worth ₹300 Crore and an offer for sale (OFS) of the equity shares worth upto ₹250 Crore will be included in the initial share sale. In an exchange filing, Delta Corp announced, “We wish to inform you that Deltatech Gaming Limited, a wholly-owned subsidiary of Delta Corp Limited, has filed a draft red herring prospectus dated June 16, 2022, with the Securities and Exchange Board of India, for a proposed initial public offering.”
At the end of FY 2022, the gaming brand secured 55 Lakh registered gamers via Adda52 and Adda.games. The shares of Delta Corp surged nearly 5% in early trade today, and the stock has declined by 31% in 2022 so far. In 2021, Delta Corp had reported a consolidated net profit of ₹48 Crore for the fourth quarter, which was down by 17% compared to ₹58 Crore in the corresponding year. The company’s sales touched the sky as they grew from ₹211 Crore to ₹218 Crore a year.
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About Delta Corp
‘Deltin,’ India’s leading luxury gaming and hospitality brand, is owned by Delta Corp Ltd. (DCL). This publicly listed company owns and operates casinos and hotels in Goa (India), Sikkim (India), Daman (India), and Kathmandu (Nepal). Delta Corp’s largest audience lives in Goa. In 2017, Delta Corp bought Gaussian Network for over ₹224 Crore. The brand started as a textiles and real estate consultancy company in 1990, but it has now evolved into diversified segments like online gaming, hospitality, real estate, and casino gaming. To know more about some of their recent updates, click here.
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Manthra Koliyer is a writer at Gutshot Magazine. She has an affinity for seeing the world through people’s eyes. With a bubbly fun personality, you can always catch her chatting with anyone she comes across. Holding an English Literature degree from Wilson College, Mumbai, and a Post Graduate Diploma in Journalism from Asian College of Journalism, this pop culture fanatic is ready to take on the world with a pen, paper, and microphone. She also actively works on her personal blog called namasteyconvict.blogspot.com, where for a moment she lets you into her drama-filled world.
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