• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, July 9, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Deltatech Gaming submits Rs 550 cr IPO papers with Sebi

by Ayush Bansal
June 19, 2022
in Business, Markets, News
Reading Time: 2 mins read
0
SEBI To Relax Startup Listing Norms By Next Month
TwitterWhatsappLinkedin

Delta tech Gaming Ltd, a digitally native, technology-led gaming platform, has filed preliminary papers with the market regulator Sebi to raise Rs 550 crore through an Initial Public Offering (IPO).

You might also like

Grok 4 Launching Today, Musk Confirms

New Academic Studies Allege Uber’s Opaque Algorithm Systematically Boosts Profits at Expense of Drivers and Passengers

CoreWeave’s Game-Changing $9 Billion Acquisition of Core Scientific

The IPO comprises a fresh issue of equity shares worth up to Rs 300 crore and an offer-for-sale (OFS) of Rs 250 crore by promoter — Delta Corp Limited, according to the Draft Red Herring Prospectus (DRHP).

The offer also includes a reservation for subscriptions by eligible employees and Delta shareholders. Additionally, the company may consider a preferential issue of equity shares or any other method aggregating up to Rs 50 crore. If such placement is completed, the fresh issue size will be reduced.

​​The proceeds from the fresh issuance worth Rs 150 crore will be utilized for organic growth, through marketing and business promotion activities, to attract new gamers and retain existing gamers, and Rs 50 crore to strengthen the technology infrastructure to develop new capabilities, maintain and manage its existing platform and general corporate purposes.

The gaming platform added that it will also invest an undisclosed amount from the net proceeds of the IPO to fund inorganic growth initiatives and general corporate purposes.

About Company

Gurugram-based Deltatech is one of the early movers in India’s real money gaming segment. Citing a RedSeer report, the company said Adda52 has a market share of more than 34.5% for the past seven years until the fiscal year 2021.

The company said it earns revenue from a 3-15% commission fee that it charges for facilitating gameplay which is derived from the gamers’ contribution to the prize pool.

In 2016, Delta Corp bought Gaussian Networks Pvt. Ltd, which then operated poker site adda52.com, in a cash and stock deal for Rs182 crore ($27 million).

Delta Corp’s consolidated net profit for the fourth quarter fell 17% to ₹48 crore as compared to ₹58 crores in the corresponding period of last year. The company’s sales rose marginally to ₹218 crores from ₹211 crores a year ago.

Axis Capital Ltd and JM Financial Ltd are managing the share sale. The shares are proposed to be listed on BSE and NSE.

Rakesh Jhunjhunwala holding 

Rakesh Jhunjhunwala, fondly called a Big Bull of the Indian stock market, holds 3.36% of the total paid-up equity shares in the casino and gaming company, as per the latest corporate filings.

The ace investor held a 7.5% stake in the company for the quarter ended March 2022, but he offloaded a 2.8% stake in the company in June.

The billionaire investor had sold 75 lakh shares of the company in June, bringing down Rakesh Jhunjhunwala and Associate’s holding in the company to 3.36% from 7.5%.

Jhunjhunwala and his wife Rekha Jhunjhunwala sold 60 lakh shares of Delta Corp (2.24) between June 1 and June 10. They sold 15 lakh shares (0.56%) in the company between June 13 and June 14.

Meanwhile, shares of Delta Corp surged over five percent to Rs 172.60 per share in Friday’s intraday trade on the BSE after the subsidiary of the gaming and casino company filed an IPO paper with the SEBI

Tags: IPOMarketNewsshare
Tweet54SendShare15
Previous Post

How to accept shared album invite on iPhone

Next Post

‘Hermit’ spyware more dangerous than Pegasus – Researchers a LookOut

Ayush Bansal

Recommended For You

Grok 4 Launching Today, Musk Confirms

by Sneha Singh
July 9, 2025
0
Grok 4 Launching Today, Musk Confirms

Elon Musk has officially revealed that xAI's much-awaited Grok 4 model will debut today, July 9, with a live-stream launch scheduled at 8 PM Pacific Time. The confirmation...

Read more

New Academic Studies Allege Uber’s Opaque Algorithm Systematically Boosts Profits at Expense of Drivers and Passengers

by Anochie Esther
July 9, 2025
0
Uber

Uber, the global ride-hailing giant, is once again facing intense scrutiny over its pricing practices. Two independent academic studies, one from the prestigious Columbia Business School in the...

Read more

CoreWeave’s Game-Changing $9 Billion Acquisition of Core Scientific

by Anochie Esther
July 9, 2025
0
CoreWeave

In a landmark deal signaling a significant shift in the competitive landscape of AI infrastructure, CoreWeave, a leading AI hyperscaler, has announced its intent to acquire Core Scientific,...

Read more
Next Post
Hermit spyware more dangerous than Pegasus

'Hermit' spyware more dangerous than Pegasus - Researchers a LookOut

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?