Embassy Developments Allots 1.1 Cr Shares on Warrant Conversion

Embassy Developments Ltd has allotted 1,10,00,000 equity shares following the conversion of an equivalent number of warrants. This conversion was exercised by Embassy Property Developments Private Limited, a promoter group entity. The company received a balance consideration of INR 91,99,57,500 (75% of the exercise price) for these warrants. The newly issued shares rank pari passu with existing equity shares. This allotment increases the company's paid-up equity share capital to INR 2,80,32,66,866, comprising 1,40,16,33,433 equity shares. Consequently, the aggregate shareholding of the Promoter and Promoter Group has increased to 43.13% of the enhanced paid-up equity share capital.