Deltatech Gaming IPO: Delta Corp gaming company DeltaTech Gaming, which runs the casino, can soon launch its IPO in the market. The stock market regulator SEBI has approved the company to bring IPO. It is believed that through the IPO, DeltaTech Gaming can raise Rs 550 crore from the capital market through the IPO.
550 crore IPO
Deltatech Gaming is a subsidiary of casino operator Delta Corp. DeltaTech Gaming had filed a draft paper with SEBI on June 16, 2022 to bring the IPO. In this IPO offer, fresh issue of Rs 300 crore will be issued while shares will be sold through offer for sale of Rs 250 crore. DeltaTech Gaming offers real money gaming through Adda52 and Adda.games platforms and has 5.5 million registered users by the end of FY 2021-22. In order to attract new users and retain existing users, the company will spend money on marketing and business promotion to attract Rs 150 crore from the IPO. Rs 50 crore will be spent on technology infrastructure.
Delta Corp bought the company
Let us tell you that Deltatech Gaming was earlier named Gaussian Network which was bought by Delta Corp in 2017 for Rs 224 crore. Let us tell you that Delta Corp is the leading casino operator company of the market. Which is also present in online gaming, hospitality, real estate sector.
Delta Corp stock status
The share of Delta Corp is trading at Rs.201. Shares of Delta Corp closed with a gain of 1.41 percent in Monday’s trading session. Rakesh Jhunjhunwala’s company Rare Enterprises, who was a veteran investor in Delta Corp, also has a stake.
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