Embassy Developments Allots ₹1,020 Cr in NCDs

Embassy Developments Limited has approved the allotment of 1,02,000 senior, secured, redeemable, unrated, unlisted non-convertible debentures (NCDs) aggregating to INR 1,020 crores. This allotment is part of a larger approved issue size of INR 1,570 crores and was made on a private placement basis. The proceeds will be utilized for repayment/refinancing of existing debt (approx. INR 920 crores), project construction, working capital, and general corporate purposes. The NCDs carry a coupon rate of 11% per annum, payable quarterly. Specific maturity dates and redemption schedules are outlined for different tranches of the debentures.