Delta Corp is reportedly planning to raise up to raise up to Rs 500 crore via a qualified institutional placement (QIP). The company will use the proceeds to pare debt, invest in online gaming and fund acquisitions. The issue is likely to be priced in the range of Rs 160-170 per share.
Delta Corp is the largest gaming company in India and the only listed company in this space. The company is an early entrant in this space and has attained a leadership position in a short span of time.