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Delta Corp Ltd.

BSE: 532848 Sector: Others
NSE: DELTACORP ISIN Code: INE124G01033
BSE 12:39 | 20 Feb 155.00 6.65
(4.48%)
OPEN

149.15

HIGH

155.80

LOW

149.00

NSE 12:34 | 20 Feb 154.95 6.55
(4.41%)
OPEN

149.00

HIGH

155.90

LOW

148.40

OPEN 149.15
PREVIOUS CLOSE 148.35
VOLUME 102301
52-Week high 277.75
52-Week low 116.05
P/E 22.53
Mkt Cap.(Rs cr) 4,199
Buy Price 154.80
Buy Qty 255.00
Sell Price 155.10
Sell Qty 177.00
OPEN 149.15
CLOSE 148.35
VOLUME 102301
52-Week high 277.75
52-Week low 116.05
P/E 22.53
Mkt Cap.(Rs cr) 4,199
Buy Price 154.80
Buy Qty 255.00
Sell Price 155.10
Sell Qty 177.00

Delta Corp Ltd. (DELTACORP) - Company History

Delta Corp. the largest gaming company in India was incorporated under the name Creole Holdings Company Pvt Ltd on November 5 1990. The company became a deemed public limited company due to the acquisition of shares by finolex group and name was changed to Creole Holdings Company Ltd on June 2 1992. The company is a diversified company along with their subsidiaries currently operating in gaming and hospitality business in Kenya.During the year 2003-04 the Finolex Cables Ltd divested their shareholding in the company and thus the company ceased to be a subsidiary of Finolex Cables Ltd. In September 25 2003 the company was converted into a private limited company. In September 15 2006 they converted into a public limited adopted new set of MOA and AOA.During the year 2006-07 as per the Scheme of Amalgamation the company named Arrow Webtex Ltd merged with the company with effect from April 1 2005. Pursuant to the scheme the name of the company was changed from Creole Holdings Company Ltd to Arrow Webtex Ltd with effect from May 18 2007. In November 2006 the company completed the expansion plan at the Narrow Woven Fabric division.During the year 2007-08 the acquired the equity shares of AAA Aviation Pvt Ltd AAA Real Land Developers Pvt Ltd J M Real Estate Pvt Ltd Jayem Realty Solutions Pvt Ltd Delta Pan Africa Ltd and Richtime Realty Pvt Ltd and thus these companies became the subsidiaries of the company. Further the company divested 10000 equity shares in Aryanish Finance and Investments Pvt Ltd thereby the said company ceased to be a subsidiary company. In December 2007 Highstreet Cruises and Entertainment Pvt Ltd a subsidiary company purchased 100% equity of Victor Hotels and Motels Ltdhe company through their subsidiaries took up new projects and business ventures in entertainment and gaming aviation and hospitality. In January 2008 the company entered into a joint venture with the Reliance Industries Ltd and formed a company namely Delta Corp East Africa Ltd for developing real estate projects in East Africa. They incorporated AAA Aviation Pvt Ltd to handle the aviation business and provide chartered flights.The company's subsidiary Highstreet Cruises and Entertainment Pvt Ltd which is operating the gaming business established a 15000 sq ft gaming Casino Vessel called the 'Casino Royale Goa' which is operating on the Mandovi river in Goa. It is India's largest indigenously built-casino live gaming and entertainment vessel. In addition they established a approx 5000 sq ft off-shore casino vessel known as the 'King's Casino' situated on the Mandovi river in Goa. During the year 2008-09 the company de-merged their textile business into a separate company called Arrow Textiles Ltd with effect from April 1 2008. Also they changed the name of the company from Arrow Webtex Ltd to Delta Corp Ltd with effect from 31st October 2008. They commenced flight-chartering services during the year.The company acquired 100% equity shares in Mundus Hospitality Pvt Ltd for a total consideration of Rs 77.52 lakh. Also they acquired 100% equity interest in Delta Holding USA Inc for a total consideration of Rs 428.20 lakh. The company divested their shares in AAA Real Land Developers Private Limited and JM Realty Management Pvt. Ltd and thereby the said companies ceased to be subsidiaries of the company. In addition they divested 22000 equity shares in Pavurotti Finance & Investment Pvt Ltd thereby they decreased their holding interest from 43% to 21%.In November 2008 the company commenced their operations in Casino Royale India's largest entertainment vessel that can cater to 888 customers at a time including approximately 450 gaming customers. In March 2009 Dacapo Brokerage India Pvt Ltd acquired 55.87% interest in the company.The joint venture company Delta Corp East Africa Ltd has made a tie up with with Team Management Services (TMS) Consulting Group Ltd a multidisciplinary firm that specializes in offering consultancies in all major areas of the built environment including Architecture Construction Management Project Management and Engineering. The company is in the business of hospitality segment through their subsidiary Delta Hospitality Pvt Ltd. This subsidiary owns 35% equity in Advani Hotels and Resorts India Ltd which owns Ramada Hotel a five star beach-front property and Casino Goa an offshore casino in Goa. In addition the company formed a joint venture with Peninsula Land Ltd namely PLL-Delta Hotels Pvt Ltd for setting up 3 and 4 star business hotels in urban locations in Western and Southern India.The company acquired riverine land of 810.85 square meters at Betim and 2700 square meters at Reis Magos village to develop jetties which will provide feeder services to the casinos. Delta Corp East Africa Ltd is developing two commercial projects and they intend to commence development work on the remaining projects in the near future.During the first quarter of the financial year 2009-10 J M Real Estate Pvt Ltd and Jayem Realty Solutions Pvt Ltd ceased to be the subsidiaries of the company and Pavurroti Finance and Investment Pvt Ltd ceased to be the associate of the company.During the year 2015 Delta Holdings (USA) Inc. ceased to be a subsidiary of the Company.During the year 2016 Caravella Entertainment Private Limited (formerly known as Caravela Casino Goa Private Limited) Gaussian Networks Private Limited Gaussian Online Skill Gaming Private Limited Gaussian Software Private Limited and Mind Sports League Private Limited became subsidiaries of the Company. Further during the year Freedom Charter Services Private Limited cease to be a joint venture and Delta PAN Africa Limited and Delta Corp East Africa Limited ceased to be subsidiaries of the Company on account of liquidation.During the year 2017 the issued subscribed and paid-up capital of the Company has increased from Rs 231624104 to Rs 2033320976/- divided into 267590478 Equity Shares of Rs 1/- each 43747 0.001% Non-Cumulative Optionally Convertible Preference Shares of Rs 21667/- each and 37747 1% Redeemable Preference Shares of Rs 21667/- each.In FY 2017 the Company launched a land-based casino in Daman through its hospitality project named The Deltin.To expand the gaming footprint to other regions in India in April 2016 the Company partnered with Hotel Welcome Heritage Denzong Regency for a casino in Sikkim. The hotel is leasing the gaming space to Delta which would be responsible for the day-to-day operations and management of the new casino. It obtained a licence from the Government of Sikkim to operate the casino in January 2017.