The gaming company listed on an Indian stock exchange, Delta Corp. Ltd., has just announced that it has Rs. 15.5 crore investment in Halaplay Technologies Pvt. Ltd which is a company operating fantasy gaming portal HalaPlay. Halaplay Technologies has a post money valuation of Rs. 100 crore with 15.52% stake being owned by Delta Corp.
Through a regulatory filing to the stock exchanges Delta Corp. stated that the company will be investing the money in two stages and will receive 31,994 equity shares in Halaplay. Delta aims to complete the entire transaction by 1st May 2019 subsequent to fulfilment of conditions provided by Halaplay.
The hospitality and casino giant mentioned that part of the deal includes its wholly owned subsidiary Gaussian Networks Pvt. Ltd. (which is the operating company for Adda52 as well as other online skill gaming brands) has entered into a business transfer agreement to transfer its fantasy sports division ‘LeagueAdda’ to Halaplay and Gaussian will be allotted 4.03% shareholding in Halaplay for the same.
This takes the combined shareholding of Delta Corp and Gaussian Networks in Halaplay to a total of 19.55%. Delta is clearly doing this to strengthen its position in the online gaming marketplace.
The fantasy sports portal Halaplay was founded by Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari. Halaplay has over 20 lakh registered users on their gaming platform and made a revenue of nearly Rs. 3 crore for the previous financial year ending 31st March 2018.
Kae Capital and Nazara Technologies Pvt. Ltd, a social gaming company, invested an undisclosed amount in Halaplay in November 2017 making it the second largest fantasy sports portal in India with Dream11 leading the space.