Embassy Property Developments Private Limited has announced the successful completion of its acquisition of equity shares in Embassy Developments Limited. This move involved the conversion of unlisted warrants, previously allotted on a preferential basis, into fully paid-up equity shares. The total number of shares acquired through this conversion is 3,25,18,900, impacting the company’s share capital and ownership structure.
Embassy Developments Private Limited Announces Equity Share Acquisition
Embassy Property Developments Private Limited has disclosed its acquisition of equity shares in Embassy Developments Limited, following the conversion of previously allotted unlisted warrants. This transaction was conducted as a preferential allotment and falls under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Details of the Acquisition
The acquisition involved the conversion of an aggregate of 3,25,18,900 unlisted warrants into an equivalent number of fully paid-up equity shares of Embassy Developments Limited. These warrants were initially allotted to Embassy Property Developments Private Limited on a preferential basis through private placement. The conversion process occurred over several tranches between October 23, 2026, and October 30, 2026.
Specifically, 1,10,00,000 equity shares were issued on October 23, 2026, followed by 1,22,00,000 equity shares on October 27, 2026, and finally 93,18,900 equity shares on October 30, 2026. This issuance has led to an increase in the total number of outstanding equity shares of Embassy Developments Limited.
Impact on Shareholding
Before the acquisition, Embassy Property Developments Private Limited held 19,37,92,592 equity shares, representing 13.9356% of the total share capital. After the conversion, the holding has increased to 22,63,11,492 equity shares, accounting for 15.9021% of the total non-diluted share capital and 15.6918% of the fully diluted share capital.
The Persons Acting in Concert (PACs) with Embassy Property Developments Private Limited collectively held 39,96,85,031 equity shares before the transaction. Their holding remains unchanged post-acquisition by the acquirer. Consequently, the combined holding of the acquirer and PACs has increased from 59,34,77,623 equity shares to 62,59,96,523 equity shares.
Share Capital Changes
The total equity share capital of Embassy Developments Limited before the said acquisition/sale stood at INR 278,12,66,866, comprising 139,06,33,433 equity shares. After the acquisition, the total equity share capital has increased to INR 284,63,04,666, with 142,31,52,333 outstanding equity shares.
The total diluted share/voting capital of the Target Company after the acquisition is INR 288,44,64,162, which includes 142,31,52,333 outstanding equity shares and 1,90,79,748 equity shares arising from the exercise of employee stock options.
Source: BSE
