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Delta Corp Limited and Deltatech Gaming Limited (DGL), a wholly owned subsidiary of the company, have entered into agreements with Head Digital Works Private Limited, pursuant to which Head Digital will initially acquire 51 per cent of the shareholding in DGL and subsequently, DGL is proposed to be merged with Head Digital.
Pursuant to the transaction, the company will acquire approximately 5.7% of the shareholding in Head Digital, which operates the online gaming brand ‘A23’, for Rs 491 crore, as per media reports.
The transaction is subject to customary conditions precedent, including approval from the shareholders of the company.
The merger process is expected to be completed before 30 June, 2026.
Head Digital’s acquisition of a 51% stake in DGL will be by way of a primary subscription and secondary acquisition from the company for an aggregate cash consideration of Rs 34,80,00,000 and swap of equity shares issued by Head Digital.
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