Delta Corp to Spin Off Hospitality and Real Estate Ventures
Delta Corp's board approves demerger and listing of hospitality and real estate business, including luxury hotels in Goa and Daman.
Delta CorpHospitalityReal EstateDemergerListingReal Estate NewsSep 24, 2024
As part of the demerger, shareholders of Delta Corp will receive one share of Delta Penland for every share they hold in the parent company. This move is aimed at creating a separate entity that can focus on the growth and development of the hospitality and real estate sector.
Delta Corp's hospitality and real estate business has been a significant contributor to the company's revenue and profitability. The luxury hotels in Goa and Daman have established themselves as premium destinations, attracting tourists and business travelers alike. By spinning off this business, Delta Corp aims to create a dedicated platform that can leverage opportunities in the hospitality and real estate sector.
The demerger is subject to regulatory approvals and is expected to be completed in the coming months. Once the demerger is completed, Delta Penland will be listed on the stock exchanges, providing shareholders with an opportunity to invest in a pure-play hospitality and real estate company.
Delta Corp's decision to demerge its hospitality and real estate business is a testament to the company's commitment to creating value for its shareholders. By unlocking the potential of this business, Delta Corp is poised to create a new growth engine that can drive returns for investors.
In recent years, the hospitality and real estate sector has witnessed significant growth, driven by increasing demand from tourists and businesses. By spinning off its hospitality and real estate business, Delta Corp is well-positioned to capitalize on this trend and create a leading player in the sector.
Information
Delta Corp is a leading Indian company with interests in gaming, hospitality, and real estate. The company has established itself as a major player in the gaming industry, with a presence in Goa and Sikkim. Delta Corp's hospitality and real estate business has also been a significant contributor to the company's revenue and profitability.
Delta Corp is a listed company on the Bombay Stock Exchange and National Stock Exchange. The company has a market capitalization of over ₹5,000 crores and is one of the leading players in the gaming and hospitality sectors.
Frequently Asked Questions
What is the nature of the demerger announced by Delta Corp?
Delta Corp has announced the demerger and listing of its hospitality and real estate business.
What will happen to the shareholders of Delta Corp?
Shareholders of Delta Corp will receive one share of Delta Penland for every share they hold in the parent company.
What is the expected timeline for the demerger?
The demerger is subject to regulatory approvals and is expected to be completed in the coming months.
What are the growth prospects for the hospitality and real estate sector?
The hospitality and real estate sector has witnessed significant growth in recent years, driven by increasing demand from tourists and businesses.
What is the market capitalization of Delta Corp?
Delta Corp has a market capitalization of over ₹5,000 crores.
Related News Articles
Emerging Talent Hubs in IndiA: Hyderabad
The rise of Tier 2 and satellite cities in India is reshaping organizations' location strategies and talent acquisition approaches
How Gen Z and Millennials are Redefining the Real Estate Market
The real estate market is undergoing a significant transformation as Gen Z and Millennials take centre stage, driven by their unique preferences and approaches to homeownership.
Maharashtra Court Cracks Down on Corruption: Former WCL Officials Sentenced to 5 Years' Imprisonment
In a significant blow to corruption, a Maharashtra court has sentenced two former Western Coalfields Limited (WCL) officials to 5 years' imprisonment and a fine of Rs. 20,000 in a bribery case.
From Selling Perfumes to Managing a Dh1.5 Billion Real Estate Empire: The Inspiring Journey of Kabir Joshi
Today, as the CEO of Vantage Capital and Vantage Properties, Kabir Joshi manages real estate deals valued at Dh1.5 billion. His rise from selling perfumes on U.S. streets to becoming a millionaire in Dubai is truly remarkable. Discover his journey.
Son's Triumph: Legal Battle for Property Possession Ends with Rs 37 Lakh Interest Award
A homebuyer from Panvel, Mumbai, fought tirelessly for the possession of a flat, for which 97% of the payment was made to the builder years ago. Tragically, the homebuyer passed away before seeing the end of the legal battle. However, his son continued th
NGT Mandate Pauses 200 Mumbai Real Estate Projects in Eco-Sensitive Zones
The National Green Tribunal's directive has become a pivotal juncture for Mumbai's real estate sector, halting around 200 projects across the city's metropolitan region, particularly those within a 5-kilometer radius of key ecological zones.