Emerald Leisures has submitted a revised outcome of its Board Meeting held on October 10, 2025, addressing a clerical error in the annexure related to the issuance of convertible warrants. The correction pertains to the names of proposed investors while maintaining all other terms and conditions of the issue.

Key Details of the Convertible Warrant Issue

• Issue Size: 29,68,000 convertible warrants
• Face Value: ₹5 per equity share
• Issue Price: ₹225 per warrant (including a premium of ₹220)
• Allotment Basis: Preferential basis to 51 investors
• Exercise Period: 18 months from the date of allotment
• Payment Terms: 25% upfront, 75% upon exercise

Shareholding Impact

The combined shareholding of proposed allottees is expected to increase from 62.30% to 68.52%, assuming full conversion of the warrants.

Key Allottees

The company has emphasized that except for the correction in investor names, all other details of the outcome previously submitted remain unchanged. This revision ensures accurate disclosure of all proposed investors to whom warrants are to be issued.

Emerald Leisures has requested the BSE to consider this as a revised and corrected submission, superseding the earlier outcomes filed on October 10 and 11, 2025. The company's proactive approach in rectifying this clerical error demonstrates its commitment to maintaining transparency and accuracy in its corporate communications.

Investors and stakeholders should take note of this correction, particularly those interested in the company's capital structure and potential ownership changes following the full conversion of these warrants.

Emerald Leisures Ltd has announced a significant corporate action that could reshape its shareholding structure and inject substantial capital into the company. The Board of Directors has approved the issuance of convertible warrants, a move that promises to strengthen the company's financial position and increase promoter stake.

Key Details of the Warrant Issue

Impact on Shareholding

The warrant issue is set to significantly alter the company's shareholding pattern:

• Pre-Issue Promoter Holding: 62.30%
• Post-Issue Promoter Holding: 68.52% (assuming full conversion)

This increase in promoter stake signals a strong vote of confidence from the company's leadership in its future prospects.

Notable Investors

Among the 51 investors participating in this issue, some key allocations include:

• Jaydeep Vinod Mehta (Promoter): 2,00,000 warrants
• Nikhil Vinod Mehta (Promoter): 1,56,000 warrants
• Ashit Mahendra Mehta (Non-Promoter, NRE): 3,50,000 warrants

Financial Implications

The warrant issue is structured to provide immediate capital infusion while allowing for future equity expansion:

• 25% of the warrant price to be paid upfront
• Remaining 75% due upon conversion within 18 months

This structure provides Emerald Leisures with immediate funds while giving investors time to assess the company's performance before full conversion.

Corporate Governance and Compliance

To ensure transparency and regulatory compliance, the company has taken several steps:

1. Appointed Ms. Zankhana Bhansali as scrutinizer for the e-Voting process
2. Engaged M/s. Pooja Gala & Associates for SEBI (ICDR) Regulation compliance certification
3. Scheduled an Extraordinary General Meeting (EGM) for November 10, 2025, to seek shareholder approval

Looking Ahead

The successful implementation of this warrant issue could provide Emerald Leisures with the capital needed for potential expansion plans or debt reduction. Investors will be keenly watching the company's utilization of these funds and its impact on future financial performance.

As the 18-month conversion window unfolds, market observers will be monitoring the exercise of these warrants, which could serve as an indicator of investor confidence in the company's long-term prospects.

Emerald Leisures' move to strengthen its capital base through this preferential issue underscores a proactive approach to corporate finance, potentially positioning the company for its next phase of growth in the leisure industry.