Embassy Developments Limited has successfully allotted 93,18,900 equity shares to Embassy Property Developments Private Limited, a promoter group entity, through the conversion of remaining warrants. This conversion, at an exercise price of INR 111.51 per share, brings in a balance consideration of INR 77.93 crore. The issuance increases the company’s paid-up equity share capital to INR 284.63 crore and slightly adjusts the promoter group’s shareholding to 43.99%.
Embassy Developments Completes Warrant Conversion
Embassy Developments Limited announced the allotment of 93,18,900 fully paid-up equity shares on October 30, 2026. These shares were issued pursuant to the conversion of the remaining outstanding warrants held by Embassy Property Developments Private Limited, a member of the Company’s Promoter and Promoter Group.
Key Transaction Details
The conversion was executed at an exercise price of INR 111.51 per equity share, which includes a premium of INR 109.51. The company received a balance consideration aggregating to INR 77,93,62,904.25 (Rupees Seventy-Seven Crore Ninety-Three Lakh Sixty-Two Thousand Nine Hundred Four and Twenty-Five Paise Only), representing 75% of the exercise price for these specific warrants. This transaction effectively concludes the conversion of all 3,25,18,900 warrants previously allotted to the Promoter Group.
Impact on Capital Structure
Following this allotment, the paid-up equity share capital of Embassy Developments Limited has increased to INR 284,63,04,666, comprising 142,31,52,333 equity shares of face value INR 2/- each. Consequently, the aggregate shareholding of the Promoter and Promoter Group has risen from 43.62% to 43.99% of the enhanced paid-up equity share capital.
Strategic Significance
The full and early conversion of these warrants by the Promoter Group is highlighted as a demonstration of their continued commitment and confidence in the Company’s long-term growth prospects. The newly issued equity shares rank pari passu with the existing equity shares of the Company in all respects.
Source: BSE
