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Embassy Developments received Rs 102 crore converting warrants, boosting promoter stake to 43.62%
27-Oct-2026, 05:33
Embassy Developments Limited, formerly Equinox India Developments Limited, announced the allotment of 1,22,00,000 equity shares to Embassy Property Developments Private Limited, a member of the Promoter and Promoter Group, following the conversion of an equal number of warrants. The company received Rs 1,02,03,16,500, representing 75% of the exercise price, and the shares were issued at an exercise price of Rs 111.51 per share, increasing the promoter group’s stake to 43.62% of the enhanced paid-up equity share capital of Rs 2,82,76,66,866.