Delta Corp Limited to divest its holding in Caravella Entertainment Private Limited

Delta Corp Limited ("DCL"), has announced divestment of its holding involving its 100% subsidiary, Caravella Entertainment Private Limited ("CEPL"). CEPL inturn holds an 89.286% stake in Deltin Nepal Private Limited ("DNPL").

The divestment represents an enterprise value of ₹ 80 crores comprising of ₹ 18 crores of parent debt and ₹ 62 crores of equity value on a nominal investment of ₹ 1 lakh equity.

The stake sale aligns with DCL's vision to optimize its portfolio and enhance shareholder value.

Shares of Delta Corp Limited was last trading in BSE at Rs. 145.80 as compared to the previous close of Rs. 140.15. The total number of shares traded during the day was 523017 in over 6081 trades.

The stock hit an intraday high of Rs. 146.75 and intraday low of 140.25. The net turnover during the day was Rs. 75808816.00.

Source : Equity Bulls

Keywords

DeltaCorp INE124G01033 StakeSale Divestment CaravellaEntertainment