Embassy Developments Limited’s board committee has approved an enabling resolution to raise additional funds aggregating up to ₹1,170 crores. This will be achieved through the issuance of senior, secured, redeemable, unrated, unlisted non-convertible debentures on a private placement basis. The move increases the company’s overall issue size from the previously intimated ₹400 crores to a revised total of ₹1,570 crores. The funds will support various corporate needs, including refinancing, project construction, and working capital.
Embassy Developments Expands Funding Capacity
Embassy Developments Limited (EMBDL) announced today that its board-constituted committee has given the green light to significantly increase its fundraising efforts. The committee, in a meeting held on July 6, 2026, approved an enabling resolution to raise additional funds aggregating up to ₹1,170 crores. This strategic move is designed to enhance the company’s financial flexibility and support its growth objectives.
Revised Overall Issue Size
This new approval effectively raises the overall issue size of the company’s non-convertible debentures (NCDs) from the initially planned ₹400 crores to a substantially larger figure of ₹1,570 crores. The issuance will continue to be conducted on a private placement basis, in one or more tranches, and will consist of senior, secured, redeemable, unrated, and unlisted debentures, each with a face value of ₹1,00,000/-. The company clarified that the total number of securities or the total amount for which they will be issued is approximately up to ₹1,570 crores.
Purpose of Fund Raising
The approval is an enabling authorization to facilitate the issuance of these debentures as and when the company’s requirements arise. The funds raised are intended for various critical corporate purposes, including the refinancing of existing indebtedness, funding project construction activities, meeting working capital requirements, and other general corporate purposes. The specific details regarding the amount, purpose, and other material terms of any actual issuance will be disclosed at the time of issuance, in compliance with applicable regulations.
Debenture Details and Security
The debentures are senior, secured, redeemable, unrated, and unlisted. They will be issued via private placement. The total size of the issue is up to ₹1,570 crores and they are not proposed to be listed on any stock exchange. The security package for these debentures includes a charge on identified assets of the Company and/or its subsidiaries, as detailed in the Debenture Trust Deed, which may be modified or revised from time to time. All other terms related to tenure, coupon/interest, and payment schedules will be decided by the Board’s constituted committee.
Source: BSE
