Embassy Developments raises NCD cap to ₹1,570 crore

Embassy Developments has received board committee approval to raise its private placement non-convertible debenture (NCD) issuance cap from ₹400 crore to ₹1,570 crore, an increase of ₹1,170 crore. The committee met on July 6, 2026, to sanction the additional fundraise, which will be conducted on a private placement basis in one or more tranches. The proceeds are earmarked for refinancing existing indebtedness, project construction, working capital requirements, and other general corporate purposes. The company, formerly known as Equinox India Developments Limited, made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The NCDs approved are senior, secured, redeemable, unrated, and unlisted instruments with a face value of ₹1,00,000 each. The actual allotment will be based on the company's requirements, and the securities are not proposed to be listed on any stock exchange. Key terms such as tenure and coupon rate are yet to be finalized and will be decided by the committee at the time of issuance. The approval serves as an enabling authorization, with the company committing to make requisite disclosures regarding the specific amount, purpose, and material terms upon issuance.

Key Details of the NCD Issuance

The specific terms of the debt securities as outlined in the regulatory filing are as follows:

Particulars	Details
Type of Securities	Senior, secured, redeemable, unrated, unlisted NCDs
Face Value	₹1,00,000 per NCD
Previous Issue Size	Up to ₹400 crore
Revised Total Issue Size	Up to ₹1,570 crore
Additional Amount Approved	Up to ₹1,170 crore
Mode of Issuance	Private Placement
Listing Status	Not proposed to be listed
Tenure	To be decided by the committee
Coupon Rate	To be decided by the committee
Security	Charge on identified assets of the company and/or subsidiaries

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.44%	-0.47%	-1.58%	-7.69%	-42.01%	-59.59%

Embassy Developments will host a meeting for analysts and institutional investors on July 9, 2026, in Mumbai. The non-deal roadshow (NDR) is scheduled to begin at 10:30 AM IST. The company stated that discussions during the meeting will be based on publicly available information and no unpublished price sensitive information (UPSI) is intended to be shared.

The meeting is being organized by JM Financial. The schedule is subject to change due to exigencies on the part of the participants or the company.

Meeting Details

Date & Time	Nature of Meeting	Place
09 July 2026 - 10:30 AM onwards	NDR by JM Financial	Mumbai

The intimation was submitted to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Vikas Khandelwal, Company Secretary.