Delta Corp Buyback Review, Offer Details, Price, Dates, Size & more
Last Updated Date: Nov 16, 2022In this article, they will discuss about Delta Corp Limited Buyback offer, buyback price, buyback size, Delta Corp Buyback record date, company financial, buyback necessity and its impact on company.
To track the real time price of this Buyback, Click on this link – Delta Corp Share Price
Delta Corp Limited Buyback Details
| Buyback Type | Open Market |
| Opening Date | April 8, 2020 |
| Closing Date | October 7, 2020 |
| Buyback Offer Amount | Rs.125,00,00,000 |
| Buyback No. of Shares | 62,50,000 |
| Face Value | Rs.1 |
| Date of Buyback Approval | March 28, 2020 |
| Date of Public Announcement | March 31, 2020 |
| Buy Back Price | Rs.100 |
| Buy Back Premium | 76.06% |
| Date of Board Meeting | March 28, 2020 |
Delta Corp Buyback Opening and Closing Date
The starting and closing date of this buyback is from April 8, 2020 to October 7, 2020.
Delta Corp Buyback Cash Offer
Cash Offer to Buy-back up to 62,50,000 fully paid-up equity shares of the Company of face value of Rs.1 each, being 7.63% and 7.59% of the total paid-up share capital and free reserves of the Company.
Delta Corp Buyback Record Date
The decided record date is [●].
Delta Corp Buyback Price
At a price of Rs.100 per Equity Share.
Delta Corp Buyback Size
At a buyback price of Rs.100 payable in cash for an aggregate maximum amount of Rs.250,00,00,000.
Delta Corp Limited Buyback Acceptance Query
You can check for Buyback Acceptance query here. Just click on the given link and it will redirect you to buyback acceptance query page.
Delta Corp Limited Buyback Acceptance Ratio
Find profit & profit percentage based on various acceptance rate, The profit is calculated based on 1000 shares.
| Acceptance Ratio | Total Shares Accepted | Buyback Price | Buyback Amount | Profit | Profit% |
| 20% | 200 | 100 | 20000 | 4880 | 6.46% |
| 40% | 400 | 100 | 40000 | 9760 | 12.91% |
| 60% | 600 | 100 | 60000 | 14640 | 19.37% |
| 80% | 800 | 100 | 80000 | 19520 | 25.82% |
| 100% | 1000 | 100 | 100000 | 24400 | 32.28% |
Profit is calculated from March 16, 2020 share price i.e. Rs.75.60 per share of Delta Corp Limited.
According to the above table, if a shareowner applies for 1000 shares of Delta Corp limited & gets 20% acceptance from the company and the owner with 1000 shares will sell 200 shares @ Rs.100.00 per share & receive Rs.4880 as profit amount & 6.46% profit percentage on selling these 200 shares back to the company.
Similarly, if the owner gets 60% acceptance of share from the company, the owner will sell 600 shares @ Rs.100.00 & receive a profit of Rs.14640 @ 19.37% profit percentage.
Delta Corp Limited Buyback Overview
Delta Corp Limited is engaged in the casino (electronic and live) gaming industry in India and operates in the offshore casino gaming space (based on gaming positions and number of vessels).
The Company, along with its subsidiaries, currently own and operate casinos in India in the states of Goa and Sikkim, offering a total of approximately 1,800+ gaming positions in addition to its presence in the online skill gaming space.
The Company holds three of the six offshore gaming licenses issued in Goa and also operates one land based casino in Goa and one in Sikkim. The Company operates Deltin Royale and Deltin JAQK, amongst the country’s two largest offshore casinos, and Deltin Caravela, the only foating hotel with a casino in India.
This Company also owns and operates the Deltin Suites, a 106 room, all-suite hotel with a casino located in Goa. The Company also operates the Casino Deltin Denzong located at the Denzong Regency hotel in Gangtok, Sikkim. We also own and operate The Deltin, a 176 room ve-star hotel in Daman
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Company Finances – Delta Corp Limited
The brief audited consolidated financial information of the Company for the last three financial years and limited review financial information for the 6 months ended September 30, 2019 are provided below:
[In Rs. Lakhs]
| Particulars | For the period ended Sept 2019 (Unaudited) | 12 Months period ended March 31 (Audited) |
||
| 2019 | 2018 | 2017 | ||
| Total Income | 257.76 | 541.60 | 399.90 | 282.79 |
| Total Expenses (excluding Interest, depreciation) | 130.09 | 264.77 | 219.380 | 180.79 |
| Finance Cost | 1.04 | 0.80 | 4.63 | 13.55 |
| Depreciation and Amortization | 10.51 | 16.18 | 14.64 | 12.05 |
| Profit before tax | 116.12 | 259.85 | 160.23 | 76.41 |
| Provision for tax (including Deferred Tax) |
27.43 | 76.53 | 55.67 | 23.79 |
| Profit /(Loss) after tax | 88.69 | 183.32 | 104.56 | 52.62 |
| Equity Share Capital | 27.09 | 27.09 | 26.76 | 23.16 |
| Reserves | 1,963.62 | 1,907.95 | 1,644.48 | 930.96 |
| Networth | 1,990.71 | 1,935.04 | 1,671.24 | 954.12 |
| Total Debt | – | – | 2.27 | 66.50* |
Delta Corp Limited Buyback Dates
| Date of Board Meeting approving the Buyback | March 28, 2020 |
| Date of publication of Public Announcement for Buyback | March 31, 2020 |
| Record Date for determining the Buyback Entitlement and the names of Eligible Shareholders | [●] |
| Buyback Opening date | April 8, 2020 |
| Buyback Closing date | October 7, 2020 |
| Last Date of verification of Tender Forms by the Registrar | [●] |
| Last date of intimation regarding acceptance / non-acceptance of Tendered Equity Shares to the BSE Limited by the Registrar | [●] |
| *Last date of Settlement of Bids on the BSE Limited | [●] |
| Last date of return of unaccepted Equity Shares by BSE Limited | [●] |
| *Last date of Extinguishment of Equity Shares | [●] |
Details of Public Announcement
This public announcement (“Public Announcement”) is made in relation to the Buy-Back of equity shares (as dened below) by Delta Corp Limited (“Company”) from BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) (together, the “Stock Exchanges”), pursuant to the provisions of Regulation 16(iv)(a) read with Regulation 16(iv)(b) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“SEBI Buy-Back Regulations”), and contains the disclosures as specied in the applicable provisions of Schedule IV to the SEBI Buy-Back Regulations.
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Necessity of Delta Corp Limited Buyback
The Company’s management strives to increase the Equity Shareholders’ value and the Buyback would result in the following benefits, amongst other things:
(a) Reduce the outstanding number of Equity Shares and consequently increase earnings per share (“EPS”) over a period of time;
(b) Effectively utilize available cash; and
(c) Improve key return ratios like return on net worth, return on assets etc. over a period of time
Impact of Delta Corp Limited Buyback on the Company
The Buy-Back is not likely to cause any material impact on the earnings of the Company, except a reduction in the investment income, which the Company could have otherwise earned on the amount distributed towards the Buy- back.
The Buy-Back of Equity Shares will result in a reduction in share capital and consequently, is expected to be EPS accretive. The Company believes that the Buy-Back will contribute to the overall enhancement of shareholders’ value going forward.
Amount required by the Company for the Buy-Back (including the cost of fnancing the Buy-Back and the transaction costs) will be invested out of the internal accruals of the Company or such other source as may be permitted by the Buyback Regulations or the Companies Act.
Salient financial parameters consequent to the Buyback based on the latest audited financial statement of the Company for the half year ended March 31, 2019 are as under:
| Parameters (based on audited standalone financial statements for year ended March 31, 2019) | Pre Buy-back | Post Buy-back (Assuming Full Acceptance) |
| Net worth (Rs in Lakhs) | ||
| Return on Net worth (%) | ||
| Earnings Per Share Basic (Rs) | ||
| Earnings Per Share Diluted (Rs) | ||
| Book Value per Share (Rs) | ||
| Total Debt / Equity Ratio |
Basis of Calculating Delta Corp Buyback Price
The Equity Shares of the Company are proposed to be bought back at the Buyback Price, i.e., Rs.100 (Rupees Hundred only) per Equity Share.
The Maximum Buy-Back Price is at a premium of 76.06% and 76.69% over the closing prices on BSE and the NSE i.e. Rs.56.80 and Rs.56.60 respectively, on March 24, 2020 which is one trading day prior to the date on which the notice of the Board Meeting to consider the Buy-Back proposal was intimated to BSE and NSE.
Maximum Buy-Back Price is at a premium of 27.13% and 27.00%, compared to the average of the weekly high and low of the closing prices of the Equity Shares of the Company on the Stock Exchanges during the two weeks preceding the date of the Board Meeting on BSE and NSE respectively.
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Source of Funds for the Buyback
Delta Corp Limited – Manager to the Buyback
| Motilal Oswal Investment Advisors Limited Motilal Oswal Tower, Rahimtullah Sayani Road, Prabhadevi, Mumbai- 400 025 Tel: +91 22 7193 4380 | Fax: +91 22 7193 4315 E-mail: deltacorp.buyback2020@motilaloswal.com Investor Grievance E-mail: moiaplredressal@motilaloswal.com Website: http://www.motilaloswalgroup.com | Contact person: Kristina Dias / Subodh Mallya SEBI Registration No.: INM000011005 | Validity Period: Permanent CIN: U67190MH2006PLC160583 |
Delta Corp Limited – Registrar to the Buyback
|
Freedom Registry Limited
Share Transfer Agent Plot No.101,19th Street, MIDC Area, Satpur, Nasik – 422007 | Tel. No.: (0253) 2354032 Email: freedom.nashik@gmail.com | Website: http://www.freedomregistry.in/ Contact Person: Mr. Bhushan Chandratre | SEBI Registration No.: INE000003563 |
Delta Corp Limited Contact Details
| Company Contact Details |
| Delta Corp Limited Registered Ofce: 10, Kumar Place, 2408, General Thimayya Road, Pune, Maharashtra 411 001 Corporate Ofce: 2nd Floor, Bayside Mall, Tardeo Road, Haji Ali, Mumbai – 400 034 Tel: +91 22 4079 4700 | Fax: +91 22 4079 4777 | Website: www.deltacorp.in Compliance Ofcer & Company Secretary: Mr. Dilip Vaidya | E-mail: secretarial@deltin.com CIN: L65493PN1990PLC058817 |
Delta Corp Limited Buyback News
News 1 – Buyback PDF / Draft Letter of Offer [Download]
News 2 – Delta Corp Ltd – Public Announcement
FAQs of Delta Corp Buyback
What is the Delta Corp Buyback Period?
Delta Corp Buyback Period is briefly the time interval starting from the date of declaration of results of the postal ballot through remote e-voting i.e. April 8, 2020. The period basically ends on the date of payment of consideration to Eligible Shareholders who participated in the Buyback, i.e. October 7, 2020.
What type of buyback is Delta Corp Buyback?
This company has chosen the route of Open Market to repurchase the shares from the eligible shareholders. Tender offer route is one of the Two Routes generally chosen by the companies, i.e.Open Market Through Stock Exchanges.
What is the Delta Corp Buyback Offer?
Delta Corp Buyback Offer refers to the number of shares the company plans to buy back from the eligible shareholders. Herein, the company proposes to buyback 62,50,000 Fully paid up Equity shares, adhering to the buyback price.
When Delta Corp Buyback offer will start?
As per the released schedule, the Delta Corp Buyback offer will start on April 8, 2020. This is the opening date from when the Buyback will open for all shareholders. You will find the updated records of Delta Corp Buyback at all times, we ensure you have access to the right data.
When is the closing date of Delta Corp Buyback?
For ease in access to the dates and related aspects, we have segregated the closing date of Delta Corp Buyback. The buyback would close on October 7, 2020. The closing date is the last day for which the Buyback shall be open for the shareholders.
What is the offer price for Delta Corp Buyback?
The amount at which the shares are taken back by the company is referred to as Delta Corp Buyback offer price. Herein, each and every fully Paid-up equity share is priced at Rs.100 the price paid to each eligible shareholder.
What is the record date for Delta Corp Buyback offer?
Record date of Delta Corp Buyback is NA. Record date is generally the day when eligible shareholders are declared. Furthermore, complying with Buyback regulations, letter of offer and Tender form is sent to the eligible shareholders.
What is the issue size of Delta Corp Buyback?
Delta Corp Buyback Size is Rs.125,00,00,000 and is the total worth of Equity Shares the company plans on taking back. This amount is obtained from the total number of equity shares, multiplied by the Buyback price.
What is the necessity for Delta Corp Buyback?
Objective of the Delta Corp Buyback is to enhance the total return made by equity shareholders. Herein, the excess funds are given to the equity shareholders, which are over and above its ordinary capital requirements and in excess of any current investment plans. Through buyback, the company will distribute the surplus cash to shareholders as per their holding proportion.
Who is the Registrar to Delta Corp Buyback offer?
The designated registrar of Delta Corp Buyback is Freedom Registry Limited. You can find all the details related to the registrar in this report and contact them if you have any queries. You can check the details of the registrar, contact person, email address and more.
Who is the Manager to the Delta Corp Buyback offer?
Manager to the Delta Corp Buyback is Motilal Oswal Investment Advisors Limited. Manager basically ensures that the company following up buyback strictly adheres to and in conformity with the provisions of the Companies Act and Buyback Regulations.
How to check Delta Corp buyback acceptance ratio?
Acceptance ratio is basically the proportion of shares the company accepts, to the final number of shares tendered. It refers to how much the company would buyback and how profitable it would be for you. You can also check how much profit (%) you will earn. Click on the link and check on the website page.
Where to find Delta Corp Buyback Dates / Events?
You can check the table for the list of events, as designed for the buyback. This article is your one and final destination to check all the Delta Corp Buyback information. You will encounter a section exclusively set to record the dates, in this article, referred to as Delta Corp Buyback Dates.
What can be the Impact of Delta Corp Buyback on the Company?
The Buyback will not in any manner impair the ability of the Company to pursue growth opportunities or meet its cash requirements for business operations. The Buyback is expected to contribute to the overall enhancement of shareholder value and result in an increase in the return on equity of the Company. This Buyback is being undertaken, inter alia, for helping the Company to return surplus cash to the Eligible Shareholders broadly in proportion to their shareholding.
Where to find complete details on Delta Corp Buyback?
As mentioned already, this page would give you every single detail about this buyback. Also, you find the link to download the Draft / Letter of Offer. Each and every section is vividly and carefully placed, giving you insights into all major as well as minor aspects of the ratio. The article is also inclusive of all the links.
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