Emerald Leisures Limited , a Mumbai-based company, has announced plans to raise ₹66.78 crores through the issuance of convertible warrants. The company's board of directors approved this move in a meeting held on October 10, 2025, subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) scheduled for November 10, 2025.

Key Details of the Proposed Issue

• Number of Warrants: 29,68,000 convertible warrants
• Issue Price: ₹225.00 per warrant (including a premium of ₹220.00)
• Conversion Ratio: Each warrant is convertible into one equity share
• Allottee Categories: Promoters/Promoter Group and Non-Promoters

Allocation of Warrants

The warrants will be allocated to both promoter and non-promoter groups:

• Promoter/Promoter Group: 5,11,000 warrants
• Non-Promoters: 24,57,000 warrants

Key promoter participants include:

1. Jaydeep Vinod Mehta: 2,00,000 warrants
2. Nikhil Vinod Mehta: 1,56,000 warrants
3. Kuntal Nikhil Mehta: 1,55,000 warrants

Utilization of Funds

The company plans to use the raised funds for various purposes:

Impact on Shareholding

Post-conversion of the warrants, the promoter shareholding is expected to decrease from 73.76% to 64.43%. However, the promoters will maintain control of the company.

Terms of the Warrants

• Conversion Period: 18 months from the date of allotment
• Pricing: Based on an independent valuer's report
• Payment Terms: 25% upfront, remaining 75% before conversion

Emerald Leisures Limited has stated that the warrants will be issued in compliance with SEBI regulations, including those related to pricing and lock-in periods.

The company will seek shareholder approval for this preferential issue at the upcoming EGM. Emerald Leisures Limited has emphasized that the proposed issue is in line with its growth strategy and aims to strengthen its financial position.

Investors and shareholders should note that the allotment of these warrants is subject to various regulatory approvals and market conditions. The company advises stakeholders to refer to the detailed notice of the EGM for complete information on the proposed issue.

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.