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Deltatech Gaming has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 550 crore through an initial public offering (IPO). The equity shares of the company are proposed to be listed on BSE and NSE.

The proceeds from the fresh issuance worth Rs 150 crore will be utilised for organic growth, through marketing and business promotion activities, to attract new gamers and retain existing gamers, Rs 50 crore for strengthen the technology infrastructure to develop new capabilities, maintain and manage its existing platform and general corporate purposes. Axis Capital and JM Financial are the book running lead managers to the issue.

Deltatech Gaming is one of the earliest companies in the real money gaming segment in India.