Embassy Developments Allots 4.14 Crore Equity Shares Worth INR 34.59 Crore Through Warrant Conversion

Embassy Developments , formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited, has announced a significant corporate action involving the allotment of equity shares through warrant conversion.

Key Details of the Allotment

Embassy Developments issued and allotted 4,13,55,120 fully-paid equity shares with a face value of INR 2 each. This allotment was made at an issue price of INR 83.63 per share, which includes a premium of INR 81.63. The total value of this allotment amounts to approximately INR 34.59 crore.

Warrant Conversion and Investors

The allotment resulted from the conversion of warrants previously issued by the company. The warrants were converted by three investors:

Investor Name	Number of Shares Allotted	Amount Invested (INR)
Sankhya Financial Services Private Limited	22,41,951	18,74,99,967.01
Mr. Utpal Seth	17,93,561	14,99,99,990.33
Mr. Vikas Khandelwal	1,00,000	83,63,250.00
Total	41,35,512	34,58,63,207.34

Impact on Share Capital

Following this allotment, Embassy Developments' paid-up equity share capital has increased to INR 278.13 crore, comprising 139,06,33,433 equity shares. The newly issued shares will rank pari-passu with the existing equity shares of the company in all respects.

Shareholding Changes

The allotment has resulted in minor changes to the company's shareholding structure:

Investor	Pre-allotment Holding	Post-allotment Holding
Sankhya Financial Services Private Limited	0%	0.161%
Mr. Utpal Seth	0%	0.129%
Mr. Vikas Khandelwal	0%	0.007%

Regulatory Compliance

This allotment was made in accordance with the shareholders' resolution and in-principle approvals from BSE Limited and National Stock Exchange of India Limited. The company has duly informed the stock exchanges of this development, complying with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The allotment of these equity shares through warrant conversion demonstrates Embassy Developments' ongoing efforts to strengthen its capital base and potentially fund its future growth initiatives.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.29%	-3.71%	-12.88%	-20.45%	-30.64%	-45.09%

Embassy Developments , a prominent real estate company, has successfully raised ₹40.34 crore through the conversion of warrants into equity shares. This strategic move has resulted in an increase in the company's paid-up equity share capital, signaling potential growth and investor confidence.

Key Highlights of the Share Allotment

Total Shares Allotted: 48,22,891 equity shares
Issue Price: ₹111.51 per share
Total Funds Raised: ₹40.34 crore
New Paid-up Equity Share Capital: ₹277.30 crore (138.65 crore equity shares)

Allotment Details

The company has issued shares to two entities:

Allottee	Shares Allotted	Amount Raised (₹)
Chanakya Corporate Services Private Limited	47,62,891	39,83,32,481.56
Mr. Manish Kumar Sinha	60,000	50,17,950.00
Total	48,22,891	40,33,50,431.56

Impact on Shareholding

The warrant conversion has led to changes in the shareholding pattern:

Investor	Pre-allotment Holding	Post-allotment Holding
Chanakya Corporate Services Private Limited	0.213%	0.556%
Mr. Manish Kumar Sinha	Negligible	0.005%

Significance of the Move

This warrant conversion and subsequent equity allotment demonstrate Embassy Developments' ability to attract investment and strengthen its capital base. The additional funds could potentially be used for various corporate purposes, including debt reduction, expansion plans, or working capital requirements.

The increase in shareholding percentages for both Chanakya Corporate Services and Mr. Manish Kumar Sinha indicates their growing stake and confidence in the company's future prospects.

Regulatory Compliance

The allotment was made in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and adherence to regulatory standards. The newly issued shares will rank pari passu with the existing equity shares of the company.

This development marks a significant step for Embassy Developments, potentially positioning it for future growth in the real estate sector. Investors and market watchers will likely keep a close eye on how the company utilizes these funds to drive its business strategies and enhance shareholder value.