Delta Corp's Strategic Move: Demerger of Hospitality and Real Estate Business
Delta Corp's board of directors has approved the demerger of its Hospitality and Real Estate businesses into a newly formed entity, Delta Penland Private Limited (DPPL). This move aims to unlock value and create enhanced growth opportunities for both sect
Delta CorpDemergerHospitalityReal EstateGamingReal Estate NewsOct 04, 2024
According to the demerger details, DPPL will be a wholly owned subsidiary of Delta Corp post demerger and will carry on the hospitality and real estate business. The company is in the process of converting from a private limited company to a public company pending approvals.
The demerger will be done through a Composite Scheme of Arrangement under Sections 230-232 read with Section 66 of the Companies Act, 2013. The scheme is subject to approvals from shareholders, stock exchanges, SEBI, NCLT, and other regulatory bodies, which will take 10-12 months, Delta Corp informed.
Upon the scheme coming into effect, shareholders of Delta Corp will get one share of DPPL for every share held in Delta Corp. This will ensure that all shareholders of Delta Corp will be the ultimate beneficiary of DPPL in the same proportion.
Frequently Asked Questions
What is the purpose of the demerger of Delta Corp's Hospitality and Real Estate businesses?
The demerger aims to unlock value and create enhanced growth opportunities for both sectors.
What will be the structure of the demerger?
The demerger will be done through a Composite Scheme of Arrangement under Sections 230-232 read with Section 66 of the Companies Act, 2013.
What will happen to the shareholders of Delta Corp after the demerger?
Shareholders of Delta Corp will get one share of DPPL for every share held in Delta Corp.
Will the demerger have any impact on employees, customers, and business partners?
No, the demerger will have no impact on employees, customers, and business partners.
When is the demerger expected to be completed?
The demerger is expected to be completed within 10-12 months, subject to approvals from regulatory bodies.
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