Delta Corp Limited has announced the approval of a Composite Scheme of Arrangement for the demerger of its Hospitality and Real Estate business into a newly incorporated company, Delta Penland Private Limited (DPPL). The decision was taken during the Board of Directors meeting held on September 24, 2024. This move will lead to the creation of two separate listed entities—Delta Corp, focusing on its core gaming business, and DPPL, concentrating on the hospitality and real estate vertical.
The demerger is aimed at unlocking shareholder value by allowing each company to pursue growth independently, increasing operational efficiency, and focusing on sector-specific strategies. The new company, DPPL, will inherit Delta Corp’s hospitality assets, such as Deltin Suites in Goa and The Deltin in Daman, with its shares being allotted on a 1:1 share entitlement ratio to Delta Corp shareholders.
The proposed demerger will be subject to approvals from shareholders, stock exchanges, SEBI, NCLT, and other regulatory bodies, a process expected to take 10 to 12 months. Delta Corp has assured that the demerger will have no impact on employees, customers, or business partners.
