Embassy Developments Limited announced the allotment of 1,10,00,000 equity shares on October 23, 2026, following the conversion of warrants. This move, part of a larger warrant issuance, involved a balance consideration of INR 91,99,57,500. The conversion has increased the company’s paid-up equity share capital and adjusted the promoter group’s shareholding to 43.13%.
Embassy Developments Completes Warrant Conversion
Embassy Developments Limited has completed the allotment of 1,10,00,000 fully paid-up equity shares on October 23, 2026. This issuance is a result of the conversion of warrants, with the shares having a face value of INR 2/- each. The transaction was facilitated by the receipt of a balance consideration aggregating to INR 91,99,57,500/-, which represents 75% of the exercise price for the converted warrants.
Financial and Ownership Impact
The allotment was made to Embassy Property Developments Private Limited, a member of the Promoter and Promoter Group. This conversion has led to an increase in the company’s total paid-up equity share capital to INR 2,80,32,66,866/-, comprising 1,40,16,33,433 equity shares. Consequently, the aggregate shareholding of the Promoter and Promoter Group in the company has risen to 43.13% of the enhanced paid-up equity share capital.
Background of Warrant Issuance
These warrants were initially allotted on a preferential basis on October 12, 2026, to Embassy Property Developments Private Limited. The total issuance comprised 3,25,18,900 unlisted warrants, convertible into equity shares at an exercise price of INR 111.51 per share. The conversion exercise by the allottee involved 1,10,00,000 warrants, with the remaining 2,15,18,900 warrants outstanding until their tenure expires on or before April 11, 2027.
Source: BSE
