Sebi has given the okay for Deltatech Gaming Ltd and Pristine Logistics & Infraprojects Ltd to seek money through an IPO (IPO). According to a Monday update from the markets watchdog, the two companies, which submitted their preliminary IPO papers to Sebi in May and June, received their observation letter on September 30. In Sebi lingo, this implies approval to begin an IPO.
According to the draught papers, Deltatech Gaming’s Rs. 550 crore initial public offering (IPO) will include a fresh issue of equity shares valued up to Rs. 300 crore and an offer-for-sale (OFS) by promoter Delta Corp. Ltd. for Rs. 250 crore.To attract new players and keep the ones they already have, Rs 150 crore of the proceeds from the new issuance will be used for marketing and business promotion activities. Rs 50 crore will be used to strengthen the technology infrastructure in order to develop new capabilities, maintain, and manage the company’s current platform, as well as for general corporate purposes.
One of the first businesses in India to offer real money gambling is the Gurugram-based business. The online gaming industry has built its own platforms over the years and is still developing them today.
According to the Draft Red Herring Prospectus, Pristine Logistics & Infraprojects’ inaugural share-sale will include a fresh issuance of equity shares for Rs 250 crore and an OFS of 20,066,269 equity shares by the promoters and current shareholders (DRHP).
The additional issuance’s proceeds will be applied to debt repayment as well as basic corporate needs.
Pristine offers services and infrastructure for logistics that are centred on rail transportation systems. Additionally, it provides comprehensive logistical infrastructure and services, including non-container, container, rail, and road transportation.
By providing warehouse, storage, and cargo handling services, as well as rail, road, and third-party logistics (3PL) services, it also aids in areas like integrated logistics solutions and identifies these services as the company’s main revenue streams.
Both the BSE and NSE will list the equity shares of these two companies.
A Sebi update revealed that Mukka Protein withdrew its DRHP on September 27. Mukka Protein filed its IPO papers with Sebi in March of this year.
The business produces fish meal, fish oil, and fish soluble paste, all of which are widely utilised as raw materials in the global aquafeed, poultryfeed, soap-making, leather tannery, and paint industries.
