Description
Listing and trading approval for 89,58,403 equity shares of Embassy Developments Limited issued on preferential basis pursuant to conversion of warrants, with lock-in periods applicable.
Summary
BSE has approved the listing and trading of 89,58,403 new equity shares of Embassy Developments Limited (Scrip Code: 532832) effective December 11, 2025. These shares were issued to non-promoters on a preferential basis pursuant to conversion of warrants at an issue price of Rs. 111.51 per share (face value Rs. 2 with premium of Rs. 109.51). The shares rank pari-passu with existing equity shares and are subject to lock-in periods.
Key Points
- Total new shares listed: 89,58,403 equity shares of Rs. 2/- each
- Issue Price: Rs. 111.51 per share (Rs. 2 face value + Rs. 109.51 premium)
- Allotted to: Non-Promoters on preferential basis
- Reason: Conversion of warrants
- ISIN: INE069I01010
- Distribution Numbers: 1554816271 to 1563774673
- Shares rank pari-passu with existing equity shares
- Scrip Code: 532832
Regulatory Changes
No regulatory changes. This is a standard listing notification for preferential allotment pursuant to warrant conversion.
Compliance Requirements
- Trading members must note the new securities are available for trading from December 11, 2025
- Lock-in restrictions apply as specified in the lock-in schedule
- All trading systems must be updated to reflect the increased share capital
Important Dates
- Notice Date: December 10, 2025
- Trading Commencement: December 11, 2025
- First Allotment Date: November 17, 2025 (48,22,891 shares)
- Lock-in expiry: June 10, 2026
- Second Allotment Date: November 20, 2025 (41,35,512 shares)
- Lock-in expiry: June 10, 2026
Lock-in Details
| Allotment Date | Number of Shares | Distribution Numbers | Lock-in Until |
|---|---|---|---|
| November 17, 2025 | 48,22,891 | 1554816271 - 1559579161 | June 10, 2026 |
| November 20, 2025 | 41,35,512 | 1559579162 - 1563774673 | June 10, 2026 |
Impact Assessment
Market Impact: Medium. The preferential allotment of approximately 8.96 lakh shares represents a dilution for existing shareholders. However, since the allotment is to non-promoters with lock-in until June 2026, immediate selling pressure is limited.
Liquidity Impact: The locked-in shares will not be available for trading until June 10, 2026, temporarily limiting the impact on float. Post lock-in expiry, the increased float may improve liquidity.
Price Impact: The issue price of Rs. 111.51 provides a reference point for valuation. The premium of Rs. 109.51 over face value indicates investor confidence at that pricing level.
Corporate Action: This represents capital raising through warrant conversion, strengthening the company’s equity base. The funds raised (approximately Rs. 99.91 crores) will support the company’s growth plans.
Impact Justification
Routine preferential allotment listing with significant dilution (8.96 lakh shares) at premium pricing. Medium impact due to lock-in restrictions and non-promoter allotment affecting float.