Delta Corp increases stake in Daman Hospitality to 87.16%

NEW DELHI: Delta Corp has increased stake in Daman Hospitality to 87.16 per cent through conversion of fully convertible debentures.

Delta Hospitality and Leisure Private Ltd ( DHLPL), a wholly-owned subsidiary of Delta Corp Ltd has increased its equity holding in Daman Hospitality Pvt Ltd (DHPL) through a conversion of fully convertible debentures, Delta Corp said in a filing to BSE today.

"The acquisition and conversion of these Series-B FCDs into 2.83 crore voting class equity shares has resulted in an increase in DGLPL's shareholding in the company, which now stands at 87.16 per cent from the earlier 51 per cent," it added.

The company however did not disclose at what price the conversion of the debentures was carried out.

Delta Corp is also looking to gradually expand its presence in hospitality and gaming sectors through organic and inorganic routes, Delta Corp said.

Shares of Delta Corp today closed at Rs 70 on the BSE, up 0.94 per cent from its previous close.