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Casino player Delta's gaming unit Deltatech files for Rs 550 crore IPO

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Casino player Delta's gaming unit Deltatech files for Rs 550 crore IPO
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Deltatech IPO: The offer comprises fresh issues of shares worth Rs 300 crore and an offer for sale of up to Rs 250 crore.

(Representative Image)

Deltatech Gaming formerly known as Gaussian Network Pvt Ltd, a wholly owned real money gaming subsidiary of casino operator Delta Corp, on June 16 filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for a Rs 550 crore initial public offering (IPO).

The offer comprises fresh issues of shares worth Rs 300 crore and an offer for sale of up to Rs 250 crore.

Deltatech Gaming offers real money gaming via Adda52 and Adda.games platforms and had over 55 lakh registered gamers as of FY22-end.

Delta Corp bought Gaussian Network in 2017 for around Rs 224 crore.

Delta Corp was incorporated in 1990 as a textiles and real estate consultancy company and has evolved into diversified segments like Casino gaming, online gaming, hospitality, and real estate.


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