This Jhunjhunwala Stock Surges 13%.following the submission of IPO Papers .

Investors were saddened by Jhunjhunwala's decision, but the news of the IPO brought the bulls back to the counter. Today's F&O embargo was imposed on Delta shares.

The gaming division of Goa-based casino operator Delta Corp, Deltatech Gaming, has filed IPO papers. Following the news, Delta Corp shares increased by around 13% to reach the day's high of Rs 187.40 on Friday.

Rakesh Jhunjhunwala, who holds a sizeable investment in Nazara Technologies, a firm in another gaming industry, has decreased his ownership in Delta from 6.169 percent to 3.365 percent.

Investors were saddened by Jhunjhunwala's decision, but the news of the IPO brought the bulls back to the counter. Today's F&O embargo was imposed on Delta shares.

In a BSE filing, Deltatech Gaming Limited (previously known as Gaussian Networks Private Limited), a wholly-owned subsidiary of Delta Corp Limited (the "Company"), said: "Further to our disclosure dated 11th January 2022, we wish to inform you that Deltatech Gaming Limited (formerly known as Gaussian Networks Private Limited) ("DGL"), has filed a draught red herring prospectus dated June 16, 2022 ("DRHP") with the Securities and The proposed initial public offering (IPO) consists of a fresh issue of its equity shares with a face value of Re 1 each for a sum of up to Rs 300 crore and an offer for sale (OFS) for a further amount up to Rs 250 crore, bringing the total to Rs 550 crore.

According to Delta, there would be a reservation for qualified business public equity owners in the anticipated IPO.

The newly listed company DGL will remain a division of Delta Corp. after the IPO.

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