Deltatech Gaming was formerly known as Gaussian Networks. Delta Corp bought it in 2017 for about Rs 224 crore.
Deltatech Gaming IPO: Deltatech Gaming Limited, a wholly owned subsidiary of online gaming company Delta Corp, is going to bring its IPO soon. Deltatech has filed a draft red herring prospectus (DRHP) with the market regulator SEBI for this. The issue size of Deltatech will be Rs 550 crore. In this, fresh equity shares of Rs 300 crore will be issued, while there will be an offer for sale (OFS) of Rs 200 crore. Delta Corp has informed the stock exchange about this.
Deltatech Gaming was formerly known as Gaussian Networks. Delta Corp bought Gaussian Networks in 2017 for about Rs 224 crore. Delta Corp was started in 1990 as a textile and real estate consultancy company. Now it works in different sectors like casino gaming, online gaming, hospitality and real estate.
Rakesh Jhunjhunwala of Delta Corp sold shares
Market veteran Rakesh Jhunjhunwala has reduced his stake in Delta Corp by almost half. Jhunjhunwala and his wife Rekha Jhunjhunwala earlier held 6.12 per cent stake in Delta Corp, which has now come down to 3.37 per cent. In the last days of last month also, he had sold its shares. He sold 60 lakh shares (2.2435 per cent stake) between June 1 and June 10. After this, he again sold 15 lakh shares on 13-14 June.
Weakness in the shares of Delta Corp this year
Let us tell you that in the year 2022 (YTD) in the shares of Delta Corp, there has been a weakness of about 34 percent so far. In the fourth quarter of FY 2022, the profit of Delta Corp fell 17 percent to Rs 48 crore as compared to 58 crore on a year-on-year basis. The company’s sales grew marginally to Rs 218 crore from Rs 211 crore on a year-on-year basis.