Embassy Developments Limited, one of India’s leading real estate developers, today announced that its promoters have completed 100% subscription of warrants through the final tranche of ₹67.7 crore, taking the total promoter infusion to ₹1,160 crore. The investment was made via the conversion of warrants into equity shares at ₹111.51 per share.
The capital infusion will be used to strengthen the company’s balance sheet, accelerate ongoing project completions, and support future expansion initiatives across key markets including Bengaluru, Delhi NCR, and the Mumbai Metropolitan Region.
This latest tranche follows the conversion of warrants previously issued on a preferential basis. With the completion of this final tranche, a total of approximately 10.4 crore fully paid-up equity shares of face value ₹2 each have been allotted to the promoter group and its associated entities at ₹111.51 per share. This brings the promoter and promoter group’s shareholding in EDL to ~41.4%.
The promoter infusion underscores strong confidence in EDL’s strategic vision and long-term growth trajectory. With a bolstered equity base, the company is now better positioned to deliver existing projects on time, explore new opportunities, and expand its footprint in premium residential and mixed-use developments across its core markets.
Mr. Rajesh Kaimal, Chief Financial Officer, Embassy Developments Limited, said: "This completed promoter investment highlights our unwavering confidence in EDL’s business strategy and growth potential. The strengthened balance sheet provides us with the financial flexibility to expedite project delivery, explore strategic investments, and scale our presence across Bengaluru, Delhi NCR, and Mumbai. This milestone reaffirms our commitment to creating long-term value for all stakeholders."
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