Key Transaction Details
The company allotted 93,18,900 equity shares of face value INR 2 each to Embassy Property Developments Private Limited (promoter group member) upon conversion of remaining warrants. The allotment was made at an exercise price of INR 111.51 per share (including premium of INR 109.51).
Financial Consideration
The company received balance consideration of INR 77,93,62,904.25 (Seventy-Seven Crore Ninety-Three Lakh Sixty-Two Thousand Nine Hundred Four and Twenty-Five Paise), representing 75% of the exercise price for these warrants.
Transaction Timeline
- Warrant allotment date: October 12, 2026 (3,25,18,900 warrants)
- First conversion: October 23, 2026 (1,10,00,000 warrants)
- Second conversion: October 27, 2026 (1,22,00,000 warrants)
- Final conversion: October 30, 2026 (93,18,900 warrants)
Regulatory Approvals
The warrant issuance was approved by shareholders resolution dated September 08, 2026, and received in-principle approvals from BSE Limited and National Stock Exchange of India Limited, each dated September 30, 2026.
Capital Structure Impact
Post-allotment, the paid-up equity share capital increased to INR 284,63,04,666 comprising 142,31,52,333 equity shares of face value INR 2 each.
Ownership Impact
The promoter and promoter group shareholding increased from 43.62% to 43.99% of the enhanced paid-up equity share capital. Specifically, Embassy Property Developments Private Limited's holding increased from 21,69,92,592 shares (15.35%) to 22,63,11,492 shares (15.90%).
Warrant Status
All 3,25,18,900 warrants allotted on October 12, 2026 have been fully converted into equity shares well ahead of their 6-month tenure, with no warrants remaining outstanding.
Regulatory Framework
The issuance was made under Chapter V of SEBI ICDR Regulations through preferential allotment. The disclosure is made pursuant to Regulation 30 read with Schedule III of SEBI LODR Regulations and SEBI Master Circular dated January 30, 2026.