Delta Corp tanks 10% as Rakesh Jhunjhunwala sells additional 5.7 mn shares

Shares of Delta Corp plunged 10 per cent to Rs 166.65 on the BSE in Monday’s intra-day commerce after ace investor Rakesh Jhunjhunwala bought an additional 5.7 million fairness shares of the corporate through open market on Friday. The inventory had hit a 52-week low of Rs 162.10 on June 16, 2022.

On June 17, 2022, Rakesh Jhunjhunwala lowered his stake in Delta Corp by 2.15 proportion factors by way of block offers. Jhunjhunwala bought these shares at Rs 167.17 per share aggregating to Rs 96 crore. The names of the consumers weren’t ascertained instantly.

Post transactions, Rakesh Jhunjhunwala and his spouse Rekha Jhunjhunwala’s holding in Delta Corp has now declined to 1.2 per cent or 3.25 million shares from 3.36 per cent as on June 14, 2022.

Previously throughout June 1-14, the 2 had bought 7.5 million fairness shares of Delta Corp by way of open market sale. After the transactions, Jhunjhunwala’s household’s stake in Delta Corp had decreased to three.36 per cent from 6.17 per cent on May 31. Jhunjhunwala and his spouse collectively held 7.48 per cent stake in Delta Corp on the finish of the March quarter.

Meanwhile, HDFC Mutual Fund mentioned its schemes have elevated shareholding in Delta Corp by 2.15 per cent as of June 10, taking the mixture holding of the schemes to 9.21 per cent of the paid-up fairness share capital of the corporate.

On Friday, the inventory of Delta Corp gained 12 per cent after its arm Deltatech Gaming (DGL) filed a draft pink herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an preliminary public providing.

DGL’s IPO will comprise a contemporary challenge of fairness shares of face worth of Rs 1 every, for an quantity aggregating as much as Rs 300 crore and a proposal on the market (OFS) price as much as Rs 250 crore.

The firm mentioned the IPO will likely be topic to market situations, receipt of relevant approvals, and different issues. Upon completion of the supply, Deltatech Gaming will proceed to be a subsidiary of Delta Corp, it mentioned.

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