Delta Corp rallied 4.91% to Rs 171.90 after the firm said that its wholly-owned subsidiary, Deltatech Gaming (DGL), has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer.
The IPO will comprise a fresh issue of equity shares of face value of Re 1 each, for an amount aggregating up to Rs 300 crore and an offer for sale (OFS) of the equity shares held by the company, for an amount aggregating up to 250 crore.
The IPO will be subject to market conditions, receipt of applicable approvals and other considerations. The company said that upon completion of the offer, Deltatech Gaming will continue to be a subsidiary of Delta Corp.
Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality and real estate.
The gaming company's consolidated net profit fell 16.72% to Rs 48.11 crore on 3.30% increase in net sales to Rs 218.32 crore in Q4 FY22 over Q4 FY21.
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