BofA Securities, Societe General offload Rs 56 crore Delta Corp shares

On October 16, BofA Securities and Societe Generale sold shares of Delta Corp for Rs 56 crore through open market transactions.

At an average price of Rs 127.97 per share, BofA Securities Europe SA sold 30.08 lakh equity shares in the casino gaming company. According to the bulk trades data on the NSE, Societe Generale sold 13.58 lakh shares at an average cost of Rs 128.48 per share. The buyers are currently unknown.

Since the gaming major's affiliate Deltatech Gaming received a notice on October 14 requesting payment of a deficit tax in the amount of Rs 6,384 crore, the company has been in the spotlight. The total tax shortfall liability for Delta Corp is now Rs 23,206 crore as a result of this tax notice. The company's market capitalization is Rs 3,749 crore, in contrast.

The promoters have consistently held 33.3 percent of the company's shares as of the June quarter ownership. 6.7 percent and 18 percent, respectively, were held by FIIs and DIIs. In the business, Societe General held a 1.43 percent stake. The largest shareholders in Delta Corp. were retail investors, who held 42 percent of the company.