Deltatech Gaming documents Rs 550 crores IPO documents with Sebi

Deltatech Gaming Ltd, a digitally native, technology gaming platform, has submitted preliminary documents to market regulator Sebi to raise 550 rupees through an initial public offering (IPO).

The IPO includes a new issue of shares worth up to Rs 300 crore and an offer of sale (OFS) of Rs 250 crore from the promoter – Delta Corp Limited, according to the draft Red Herring Prospectus (DRHP).

The offer also includes a subscription reservation from eligible Delta employees and shareholders.

In addition, the company may consider a preference issue of shares or other method with a total value of up to Rs 50. If this placement is completed, the size of the new number will be reduced.

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The proceeds from the new issue of Rs 150 will be used for organic growth through marketing and business promotional activities, to attract new gamers and retain existing gamers, Rs 50 to strengthen the technological infrastructure to develop new opportunities, maintain and manage its existing platform and common corporate goals.

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 continue to grow. He also believes that investing in his gaming platform and offers is crucial for business growth, the inclusion of new players and the retention of existing players, using neighborhoods such as game types, promotions, etc.

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

Deltatech Gaming’s revenue from operations amounted to Rs 137.23 Crore for fiscal 2022, against Rs 155.37 Crore for the previous fiscal.

Axis Capital and JM Financial Limited are the leading managers and the shares in the capital are offered to be listed on BSE and NSE.

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