Description
Embassy Developments Limited lists 89,58,403 new equity shares issued at Rs. 111.51 per share through preferential allotment on conversion of warrants, with lock-in periods until June 2026.
Summary
BSE has approved the listing of 89,58,403 new equity shares of Embassy Developments Limited (Scrip Code: 532832) issued through preferential allotment to non-promoters pursuant to conversion of warrants. The shares will commence trading on December 11, 2025, at an issue price of Rs. 111.51 per share (face value Rs. 2 plus premium of Rs. 109.51). The new shares are pari-passu with existing equity shares.
Key Points
- Total new shares listed: 89,58,403 equity shares of Rs. 2 each
- Issue price: Rs. 111.51 per share (face value Rs. 2 + premium Rs. 109.51)
- Issuance method: Preferential basis to non-promoters on warrant conversion
- ISIN: INE069I01010
- Distribution numbers: 1554816271 to 1563774673
- Trading commencement: December 11, 2025
- Status: Pari-passu with existing equity shares
Regulatory Changes
No regulatory changes are introduced by this circular. This is a standard listing notification following SEBI guidelines for preferential allotment and warrant conversion.
Compliance Requirements
- Trading members must update their systems to reflect the increased share capital of Embassy Developments Limited
- The lock-in restrictions must be maintained as per the schedule provided
- Shares cannot be transferred or sold by allottees until the lock-in period expires
Important Dates
- December 11, 2025: Trading commencement date for new equity shares
- November 17, 2025: Allotment date for 48,22,891 shares (first tranche)
- November 20, 2025: Allotment date for 41,35,512 shares (second tranche)
- June 10, 2026: Lock-in expiry date for all allotted shares
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: The listing adds approximately 8.96 lakh shares to Embassy Developments Limited’s equity capital, representing potential dilution for existing shareholders. However, immediate market impact is limited due to lock-in provisions until June 2026.
Liquidity Impact: While shares are listed and tradeable from December 11, 2025, the lock-in restrictions mean these specific shares cannot be sold until mid-2026, limiting immediate supply increase.
Shareholding Impact: The preferential allotment to non-promoters will alter the company’s shareholding pattern, potentially reducing promoter holding percentage and increasing public float.
Investment Consideration: The issue price of Rs. 111.51 provides a reference point for valuation. Investors should monitor the stock’s trading behavior post-listing and assess any impact on the company’s fundamentals from the capital raised through warrant conversion.
Impact Justification
Significant equity dilution of 8.96 lakh shares through warrant conversion with preferential allotment to non-promoters. Medium impact due to lock-in provisions limiting immediate tradability and potential effect on shareholding pattern.