Delta Corp injects Rs 990.99 mn into Peninsula Land

01 Dec 2023 CW Team

Delta Corp (Delta) has decided to invest Rs 990.99 million in Peninsula Land (PLL), a company engaged in the operation of casinos and hotels. The approval for this investment was granted by the board of directors of Delta Corp. The subscription includes equity shares with a face value of Rs 2 per share, issued at an issue price of Rs 44. The total cash consideration for these equity shares amounts to Rs 660 million. Additionally, 77,27,000 - 0% unsecured compulsory convertible debentures (CCDs) with a face value of Rs 44 each, convertible into one fully paid-up equity share of PLL with a face value of Rs. 2, will be issued. This transaction is set to take place on April 16, 2025.

In a media release, Delta Corp stated that due to the deferral of its flagship project in Dhargalim, Goa, and considering its free reserves and cash flows, the company sees a compelling opportunity for long-term growth in the sector. As the majority stakeholder, Delta Corp, through its joint venture, plans to undertake projects primarily in Mumbai and Goa, adhering to its philosophy of maintaining a debt-free company.

The allotment of equity shares and CCDs is anticipated to be completed on or before 30th January 2024. Following the preferential issue of equity shares, Delta Corp will hold 4.86% of the post-issue paid-up share capital of PLL. Additionally, after the conversion of CCDs, the company is expected to possess an additional 2.44% of the fully paid-up share capital of PLL.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..