Embassy Developments has allotted 1,02,000 senior, secured, redeemable non-convertible debentures (NCDs) aggregating ₹1,020 crore on a private placement basis. The instruments carry a coupon rate of 11% per annum and are unrated and unlisted. This allotment was approved by the Board’s constituted committee on July 15, 2026, and constitutes part of a total approved issue size of ₹1,570 crore.

The company will utilize approximately ₹920 crore of the aggregate proceeds towards repayment or refinancing of existing indebtedness. The balance will be deployed for project construction, working capital requirements, and other general corporate purposes. The debentures have a face value of ₹1,00,000 each and are secured by a charge on the identified assets of the company and/or its subsidiaries.

Issue Details

The issuance comprises two tranches with distinct maturity schedules. The first tranche consists of 2,500 debentures aggregating ₹25 crore, maturing on September 30, 2029. These will be redeemed in 10 quarterly instalments commencing from June 30, 2027. The second tranche involves 99,500 debentures aggregating ₹995 crore, maturing on December 31, 2029, redeemable in six quarterly instalments starting from September 30, 2028.

Interest Payment Schedule

Interest payments will be made quarterly in cash. For the tranche of ₹25 crore, payments commence from September 30, 2026. For the larger tranche of ₹995 crore, interest payments begin from December 31, 2027. The company retains the right to undertake partial or full prepayment of the debentures on or before the respective maturity dates using surplus funds.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Embassy Developments Limited, formerly known as Equinox India Developments Limited, confirmed that the transaction adheres to the provisions of the Companies Act, 2013 and other applicable laws.

Embassy Property Developments Private Limited (EPDPL), the promoter group of embassy developments , released the pledge over an aggregate of 1,00,00,000 equity shares held by the company on July 14, 2026. This transaction reduces the encumbrance on the promoter's holding, valued at ₹64.79 crore based on the closing price of the shares on the National Stock Exchange of India Limited. The disclosure was submitted to the exchanges on July 15, 2026, in compliance with Regulation 7(2)(b) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The release of pledge is a follow-up to a previous disclosure made on June 9, 2026, when the promoter group had released the pledge over 2,00,00,000 equity shares. The cumulative release of pledged shares amounts to 3,00,00,000 equity shares across the two transactions. Following the latest release, EPDPL continues to hold 19,37,92,592 equity shares, representing a 13.94% stake in the company.

Details of Pledge Release

The company stated that the intimation aligns with its commitment to high standards of corporate governance and the timely dissemination of information to investors and other stakeholders. The filing was signed by Vikas Khandelwal, Company Secretary of Embassy Developments Limited, while the disclosure from EPDPL was signed by Devika Priyadarsini, Company Secretary.