Deltatech Gaming Limited, a wholly owned subsidiary of Delta Corp Limited files for Initial Public Offering (“IPO”) with SEBI

Deltatech Gaming Limited (formerly known as Gaussian Networks Private Limited) (“DGL”), a wholly owned subsidiary of Delta Corp Limited (the “Company”), has filed a draft red herring prospectus dated June 16, 2022 (“DRHP”) with the Securities and Exchange Board of India, for a proposed initial public offering, comprising a fresh issue of its equity shares of face value of Rs 1 each (“Equity Shares”), for an amount aggregating up to Rs 3,000 million and an offer for sale of the Equity Shares held by the Company, for an amount aggregating up to Rs 2,500 million (“OFS”) (the “Offer”).

The IPO includes the following proposed reservations:

  • By the eligible employees of DGL and the Company; and
  • By the eligible public equity shareholder(s) of the Company (excluding such other persons not eligible under applicable laws, rules, regulations and guidelines).

In connection with the aforementioned Offer, the board of directors of the Company, at its meeting held today, i.e., June 16, 2022, accorded its approval for participating in the OFS in the Offer.

The IPO will be subject to market conditions, receipt of applicable approvals and other considerations.After completion of the Offer, DGL will continue to be a subsidiary of Delta Corp Limited.