Delta Corp Limited has informed the Exchange about Shareholders meeting
DELTACORP · price
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Delta Corp Limited has called an Extra Ordinary General Meeting on 9th April 2026 at 3:00 PM via video conferencing, with the cut-off date for e-voting eligibility set as 2nd April 2026 and remote e-voting open from 5th to 8th April 2026. Two special business items are on the agenda, both involving related party transactions with its wholly owned subsidiary Delta Pleasure Cruise Company Pvt Ltd (DPCCPL) and associate company Waterways Shipyard Pvt Ltd (WSPL). The first resolution seeks shareholder approval to increase the ship-building contract value for a new casino vessel (for Goa's Mandovi River) from Rs. 320 crore to up to Rs. 400 crore plus taxes, an additional Rs. 80 crore driven by cost escalation in ship-building materials and extra specifications demanded by classification authorities. The second resolution seeks approval for DPCCPL to provide a corporate guarantee of up to Rs. 2.25 crore (45% of a proposed Rs. 5 crore loan) to help WSPL secure bank funding for project completion, with WSPL paying a 0.75% annual commission to DPCCPL for the guarantee.
For retail shareholders, this is a procedural EGM to approve two related-party transactions tied to building a new offshore casino vessel — a key growth asset for Delta Corp's Goa gaming business. The 25% cost escalation (Rs. 80 crore) on the ship-building contract is meaningful but tied to genuine scope/specification changes, and shareholders must vote on it. Approval is likely given promoter/management support, but a 'no' vote or large dissent could delay the vessel's launch and impact future gaming revenue.