Delta Tech formerly known as Gaussian Network Pvt Ltd will soon file draft papers with Securities Exchange Board of India to raise funds via initial public offering, Hardik Dhebar Group CFO of Delta Corp said in an interview with CNBC TV18.
Delta Tech, which operates the online poker site 'Adda52', is the 100 percent subsidiary of Delta Corp Ltd. Delta Corp bought Gaussian Network in 2017 for around Rs 224 crore. Dhebar expects to list at the firm at the end of 2022.
"We are working with bankers and we are on track for the IPO. We can see positive news soon. We expect to file draft papers next month", Hardik Dhebar said.
Without giving details of the issue size, Dhebar said the firm will raise funds via fresh issue and offer for sale. Dhebar also did not provide the details of how the firm will use funds from the IPO.