In a strategic move that underscores the dynamic nature of corporate structures, Embassy Group has completed an internal restructuring involving a significant portion of Indiabulls Real Estate Limited's equity shares. The transaction, which took place on October 4, 2021, involved the transfer of 6,30,95,240 shares through off-market transactions among Embassy Group entities.

Details of the Share Transfer

The restructuring process involved a two-step transfer of shares:

1. Initial transfer from Embassy Property Developments Private Limited to Nam Estates Private Limited
2. Immediate subsequent transfer from Nam Estates Private Limited to Embassy Realty Ventures Private Limited

This substantial block of shares represents:

• 13.88% of Indiabulls Real Estate's total share capital
• 13.83% of the company's diluted share capital

Significance of the Restructuring

It's important to note that this internal reorganization does not alter the overall shareholding of Embassy Group entities in Indiabulls Real Estate. The company emphasized that this was merely a transfer pursuant to internal restructuring among group companies.

Such internal restructurings are not uncommon in large corporate groups and can be undertaken for various reasons, including:

• Streamlining operations
• Optimizing tax structures
• Preparing for future corporate actions

Upcoming Financial Results

While not directly related to the share transfer, the LODR data reveals that Embassy Developments Limited (formerly known as Equinox India Developments Limited and earlier as Indiabulls Real Estate Limited) has scheduled a board meeting for November 6, 2025. The meeting agenda includes:

• Consideration and approval of unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025
• The trading window for dealing in the company's securities will remain closed until November 9, 2025, in compliance with SEBI regulations

This upcoming board meeting suggests that the company continues to maintain transparency and adhere to regulatory requirements in its operations.

The internal restructuring of shares and the scheduled board meeting for financial results review demonstrate the ongoing corporate governance practices within the Embassy Group and its associated entities.

Embassy Developments Limited has successfully raised ₹87.36 crore through the conversion of warrants into equity shares, marking a significant capital raising exercise for the company. The real estate firm, formerly known as Indiabulls Real Estate Limited, has allotted 1.04 crore shares as part of this strategic financial move.

Warrant Conversion Details

The company has issued and allotted 1,04,46,067 fully-paid equity shares with a face value of ₹2 each at an issue price of ₹111.51 per share. This allotment comes as a result of the conversion of previously issued unlisted warrants. The details of the allotment are as follows:

Impact on Share Capital

Following this allotment, Embassy Developments' paid-up equity share capital has increased to ₹276.34 crore, comprising 138,16,75,030 equity shares. This move has resulted in changes to the shareholding structure of the company:

Strategic Implications

This warrant conversion and subsequent share allotment represent a strategic move by Embassy Developments to strengthen its capital base. The infusion of ₹87.36 crore is expected to provide the company with additional financial flexibility to pursue its growth objectives in the real estate sector.

The successful conversion of these warrants also demonstrates investor confidence in Embassy Developments' business model and future prospects. It's worth noting that the warrants were initially issued on May 21, 2024, with a conversion period of 18 months, indicating that the investors have chosen to convert their holdings well within the stipulated timeframe.

As the real estate market continues to evolve, this capital raise positions Embassy Developments to capitalize on emerging opportunities and strengthen its market presence.