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Home Entertainment Games

Deltatech Gaming files Rs 550 crores IPO papers with Sebi

June 17, 2022
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Deltatech Gaming files Rs 550 crores IPO papers with Sebi
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Deltatech Gaming Ltd, a digitally native, technology-led gaming platform, has filed preliminary papers with the markets regulator Sebi to raise Rs 550 crore through an Initial Public Offering (IPO).

The IPO comprises 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 subscription 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.

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

The Gurugram-based company is one of the earliest companies in the real money gaming segment in India.

Over the years, the digital gaming company has developed its own platforms, which it continues to evolve. It also believes that investing in its gaming platform and offers are critical for business growth, new player on-boarding, and existing player retention, by using adjacencies such as game types, promotions, and so on.

In April 2021, it acquired multi-gaming technology under the trademark Faboom and rebranded it as the Adda.Games platform, thereby expanding its footprint in the gaming business.

Deltatech Gaming’s revenue from operations stood at Rs 137.23 crore for fiscal 2022, against Rs 155.37 crore for the preceding fiscal. 

Axis Capital and JM Financial Limited are the book running lead managers and the equity shares are proposed to be listed on BSE and NSE.



Source by www.zeebiz.com

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