Deltatech Gaming Ltd and Pristine Logistics & Infraprojects Ltd have been given the green light by Sebi to raise funds through initial public offerings (IPOs). Two companies that submitted preliminary IPO documents to Sebi in May and June received observation letters on Sept. 30, a market regulator update showed on Monday.
In Sebi’s words, his observations mean he agreed to launch an IPO. his Rs 550 billion IPO of Deltatech Gaming will include a new issuance of shares worth up to Rs 300 crore by promoter Delta Corp Ltd and his Rs 250 crore sale offer (OFS). Rs 150 crore revenue from new releases will be used for organic growth through marketing and business promotion activities to attract new players and retain existing players, while Rs 50 crore will be used to strengthen the technology infrastructure.
Used to develop and maintain new skills and maintain them. Existing platforms and general corporate purpose. The Gurugram based company is one of the first real money gaming companies in India. Over the years, digital game companies have developed their own platforms, which are constantly evolving.
The first share sale of Pristine Logistics & Infraprojects involves the issuance of Rs 250 crore shares and his OFS of 20,066,269 shares by promoters and existing shareholders under Draft Red Herring Prospectus (DRHP). Proceeds from the reissue will be used to pay down debt and for general corporate purposes.
Both companies’ shares are listed on the BSE and NSE. Meanwhile, Mukka Protein, who filed his IPO documents with Sebi in March this year, withdrew his DRHP on September 27.
Pristine provides logistics infrastructure and services related to rail transportation networks. We also offer synergistic logistics infrastructure and services, including non-container, container, rail and road transportation services. It also serves in areas such as integrated logistics solutions by providing warehousing, warehousing, cargo handling, rail transportation, road transportation, and third-party logistics (3PL) services, recognizing these services as the company’s primary source of revenue.
The company is engaged in the production of fishmeal, fish oil and fish soluble pastes used as raw materials for the fish feed, poultry feed, soap making, tanning and paint industries worldwide.