Shares of Delta Corp plunged 10 per cent to Rs 166.65 on the BSE in Monday’s intra-day trade after ace investor Rakesh Jhunjhunwala sold an additional 5.7 million equity shares of the company via open market on Friday. The stock had hit a 52-week low of Rs 162.10 on June 16, 2022.
On June 17, 2022, Rakesh Jhunjhunwala reduced his stake in Delta Corp by 2.15 percentage points through block deals. Jhunjhunwala sold these shares at Rs 167.17 per share aggregating to Rs 96 crore. The names of the buyers were not ascertained immediately.
Post transactions, Rakesh Jhunjhunwala and his wife 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 during June 1-14, the two had sold 7.5 million equity shares of Delta Corp through open market sale. After the transactions, Jhunjhunwala’s family’s stake in Delta Corp had decreased to 3.36 per cent from 6.17 per cent on May 31. Jhunjhunwala and his wife together held 7.48 per cent stake in Delta Corp at the end of the March quarter.
Meanwhile, HDFC Mutual Fund said its schemes have increased shareholding in Delta Corp by 2.15 per cent as of June 10, taking the aggregate holding of the schemes to 9.21 per cent of the paid-up equity share capital of the company.
On Friday, the stock of Delta Corp gained 12 per cent after its arm Deltatech Gaming (DGL) filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering.
DGL’s IPO will comprise a fresh issue of equity shares of face value of Rs 1 each, for an amount aggregating up to Rs 300 crore and an offer for sale (OFS) worth up to Rs 250 crore.
The company said the IPO will be subject to market conditions, receipt of applicable approvals, and other considerations. Upon completion of the offer, Deltatech Gaming will continue to be a subsidiary of Delta Corp, it said.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
"corp" - Google News
June 20, 2022 at 02:14PM
https://ift.tt/L6kxQuo
Delta Corp tanks 10% as Rakesh Jhunjhunwala sells additional 5.7 mn shares - Business Standard
"corp" - Google News
https://ift.tt/5Z2bGWI
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Delta Corp tanks 10% as Rakesh Jhunjhunwala sells additional 5.7 mn shares - Business Standard"
Post a Comment