Deltatech Gaming IPO – the company and management:
Deltatech Gaming IPO date and price has not yet been scheduled. The company filed DRHP with market regulator SEBI for approval.
Deltatech Gaming Limited was incorporated as ‘Gaussian Networks Private Limited’ in Kolkata in 2011. The registered office of Deltatech Gaming Private Limited is on the 4th Floor, 148 Jessore Road, Block A, South East Corner, Kolkata, India. The corporate office of the company is 349, Udyog Vihar, Phase II, Gurgaon, Haryana, India. The company changed its name to Deltatech Gaming Limited and became a public company on May 10, 2022. The company is one of the leading gaming companies in India that offers both online and offline gaming platforms for its users.
Read the complete company insights here – “Deltatech Gaming Company Profile – Key products, finance, management team, strategic insights”
Deltatech Gaming founders or leaders
Shivanandan Pare is the Executive Director and Chief Executive Officer of the company for three years with effect from August 19, 2021. Jaydev Mody is the Non-Executive and Non-Independent Chairman of the company. He is one of the promoters of the company. Hardik Dhebar has been the Executive Director and Chief Financial Officer of the Company since May 2008. He has over 24 years of experience in finance and treasury operations.
Deltatech Gaming Financial analysis
Deltatech Gaming Limited reported a total income of INR 1376.32 million in FY 2022 as compared to INR 1321.64 million for FY 2020 recording a growth of 4%. However, compared with FY2021 revenue of INR 1560.51 million, the company incurred a loss of 11.8% in FY2022.
Read financial details of the company here – “Deltatech Gaming Finance performance – Key products, finance, management team, strategic insights”
Deltatech Gaming IPO pricing and issue size
Deltatech Gaming Limited has filed its Draft Red Herring Prospectus (DRHP) to raise INR 550 crore through an initial public offering (IPO). The fresh issue of equity shares worth up to INR 300 crores and offer for sale is of equity shares aggregating up to INR 250 crores. The promoter of the company Delta Corp is selling a part of its holding as an offer for sale.
Deltatech Gaming Limited is proposing its shares be listed on both the Stock Exchanges- BSE and NSE. Book Running Lead Managers of this IPO are Axis Capital Limited and JM Financial Limited. The registrar for this IPO is Kfin Technologies Private Limited.
The company’s equity shares outstanding before the initial public offer stand at 95,690,856 shares. Up to 60% of the offer shall be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”). One-third of the anchor investor allocation shall be reserved for allocation to domestic Mutual Funds only. No more than 10% of the Net Offer shall be available for allocation to Retail Individual Investors.
Utilization of Net Proceeds
The company will utilize the net proceeds of the fresh issue for organic growth, through marketing and business promotion activities. Some amount will also be utilized to strengthen the technology infrastructure to develop new capabilities and maintain and manage the existing platforms.
Deltatech Gaming Limited will not receive any amount out of the offer for sale. However, the company proposes to utilize INR 150 crores of the net proceeds of the fresh issue for organic growth. The company is planning to expand its core business through marketing and business promotion activities to attract new gamers and retain existing ones. Deltatech Gaming will invest INR 50 crores to strengthen its technology infrastructure to develop new capabilities. The rest of the amount from net proceeds will be utilized to fund the company’s inorganic growth initiatives and general corporate purposes.
Deltatech Gaming Limited is investing in organic growth, through marketing and business promotion activities. The company is also planning to strengthen its technology infrastructure to develop new capabilities and maintain and manage the existing platforms. The cumulative registered gamer base on the platforms increased at a CAGR of 38.93% from Fiscal 2018 to Fiscal 2022. This shows the company’s commitment to growth. Higher disposable income, increased internet access, and the launch of the 5G network in India will further boost the growth of this company. Investing in this company is only for the long term.
|Deltatech Gaming||IPO details|
|Subscription Dates||Coming soon|
|Anchor Investor Bidding Date||Coming soon|
|BID/OFFER Opens on||Coming soon|
|BID/OFFER closes On||Coming soon|
|Price Band||Coming soon|
|Offer for Sale||INR 250 crores|
|Fresh Issue||INR 300 crores|
|Equity Shares outstanding before the Issue||95,690,856 Equity Shares|
|Minimum bid (lot size)||Coming soon|
|Face Value||INR 1 per Share|
|Listing on||BSE and NSE|