The shares of this leading foreign exchange service fell by 10 percent after the company’s promoter EbixCash World Money Ltd sold 16,19,280 equity shares.
With a market capitalization of Rs 361.60 crores, the shares of Delphi World Money Ltd are trading at Rs 324.95 per share, which fell around 10 percent compared to the previous closing price of Rs 361.05 per share.
According to the company filing, Delphi World Money Ltd promoter EbixCash World Money Ltd has sold 16,19,280 equity shares of the company having a face value of Rs 10 each representing 14.55 percent of the company.
Furthermore, Due to the previously mentioned share sale, the Promoter’s ownership stake in the Company has decreased from 89.55% of the Paid-Up Equity Share Capital to 75% of the Paid-Up Equity Share Capital.
The company set up a safe logistics network for physical notes, a well-established distribution network that reaches all 707 districts in India, and retail locations that are prominently located throughout 200 branches and more than 61,000 customer touchpoints across India.
Looking into Delphi World Money Ltd’s performance, revenue increased by 2.3 percent from Rs 20.74 Crore in Q2FY23 to Rs 21.22 Crore in Q2FY24. During the same time frame, net profit increased by 3 percent from Rs 3.77 crore to Rs 3.90 crore.
Delphi World Money Ltd.’s shareholding pattern as of September 2023, the company’s promoters own 89.55 percent, and retail shareholders own a 10.44 percent stake.
The company developed strong ties with 18 forex counters at Indian airports and 41 top PSU/Private Banks, strengthening its partnerships with foreign partners like Western Union, RIA, Money Transfer, MoneyGram, Xpress Money, and Transfast.
Delphi Word Money Ltd is a prominent provider of foreign exchange services, providing comprehensive financial solutions for its corporate and individual clients’ foreign exchange, outward and inward remittances, prepaid cards, gift cards, and travel insurance needs.
Written By:- Abhishek Singh
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