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IPO

Deltatech Gaming files for Rs.550-Cr IPO

Economic Times  

Gurugram-based Deltatech Gaming Ltd has filed preliminary papers with the capital markets regulator Sebi to raise INR 550 crore through an Initial Public Offering (IPO). The IPO comprises fresh issue of equity shares worth INR 300 crore and an offer-for-sale (OFS) of INR 250 crore by promoter Delta Corp Ltd. The offer also includes a reservation for subscription by eligible employees and Delta shareholders. The company may also consider a preferential issue of equity shares or any other method aggregating INR 50 crore. If such placement is completed, the fresh issue size will be reduced. Deltatech operates in the real money gaming segment in India. In April 2021, it acquired multi-gaming technology under the trademark Faboom and rebranded it as the Adda games platform. Of the proceeds, INR 150 crore will be used for organic growth, through marketing. About INR 50 crore will be used to strengthen the technology infrastructure to develop new capabilities, maintain and manage its existing platforms. Axis Capital and JM Financial Ltd are the book running lead managers to the issue.