Key Quantitative Figures

  • Number of equity shares allotted: 1,10,00,000 (1.1 crore)
  • Face value per share: ₹2
  • Exercise price per share: ₹111.51 (including premium of ₹109.51)
  • Balance consideration received: ₹91,99,57,500 (75% of exercise price for converted warrants)
  • Total warrant issuance: 3,25,18,900 warrants
  • Remaining outstanding warrants: 2,15,18,900
  • Post-allotment paid-up equity share capital: ₹280,32,66,866
  • Post-allotment total equity shares: 1,40,16,33,433
  • Promoter group holding post-allotment: 43.13%

Dates of Action

  • Shareholder approval date: September 08, 2026
  • Stock exchange in-principle approval dates: September 30, 2026
  • Warrant allotment date: October 12, 2026
  • Equity share allotment date: October 23, 2026
  • Warrant conversion tenure expiration: April 11, 2027

Parties Involved

  • Issuer: Embassy Developments Limited (formerly Equinox India Developments Limited)
  • Allottee: Embassy Property Developments Private Limited (member of Promoter and Promoter Group)
  • Regulatory references: SEBI LODR Regulations, SEBI ICDR Regulations Chapter V
  • Stock Exchanges: BSE Limited, National Stock Exchange of India Limited

Purpose and Rationale

The allotment was made pursuant to the conversion of warrants issued on a preferential basis as approved by shareholders and stock exchanges. The promoter group has voluntarily committed to exercise and convert all warrants within 6 months from the date of allotment (by April 11, 2027).

Capital Structure Impact

  • Pre-allotment holding of Embassy Property Developments: 19,37,92,592 shares (13.94%)
  • Post-allotment holding of Embassy Property Developments: 20,47,92,592 shares (14.61%)
  • The equity shares rank pari passu with existing equity shares
  • The infusion of approximately ₹92 crore increased the promoter group's aggregate shareholding to 43.13%

Additional Information from Annexure-A

The warrant conversion mechanism requires payment of 75% of the exercise price within 6 months from the date of allotment. The current conversion represents partial exercise of the total warrants allotted, with 2,15,18,900 warrants remaining outstanding and convertible until April 11, 2027.