Emami Realty Limited has informed the Exchange regarding Notice of Postal Ballot
EMAMIREAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Emami Realty has issued a postal ballot notice to shareholders for e-voting between February 26 and March 27, 2026. Two resolutions are proposed: (1) A special resolution to revise the coupon rate on 8.53 crore unlisted non-convertible debentures (NCDs) of face value ₹82, aggregating to ₹700 crore, held by promoter group companies Suraj Finvest and Diwakar Finvest, from 7.50% to 10% per annum, which will raise the company's annual interest outflow by about ₹17.5 crore; (2) An ordinary resolution to approve acquiring a 10.79-acre project (Basanti Cotton Mills land) from Orbit Abasan Private Limited on a slump sale basis for up to ₹50 crore. Both transactions are material related party transactions under SEBI rules and require shareholder approval.
Minority shareholders should note that the first resolution increases the company's interest cost by roughly ₹17.5 crore per year in favour of promoter group entities, while related parties are barred from voting affirmatively. The second resolution adds a new real estate project to the company's pipeline but involves a related party (Orbit Abasan) where the MD & CEO is a director, so the deal's fairness is critical. Overall, near-term earnings may be modestly pressured by higher interest costs, while the project acquisition could support future revenue if executed well.