Emami Realty Limited has informed the Exchange regarding allotment of 5990000 securities pursuant to Preferential Issue at its meeting held on April 16, 2025
EMAMIREAL · price
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Emami Realty's Finance Committee approved allotment of 59,90,000 equity shares at ₹128.50 each (face value ₹2, premium ₹126.50) to two promoter group entities — Suraj Finvest Pvt Ltd and Diwakar Finvest Pvt Ltd — against conversion of ₹76.97 crore of unsecured loans. Additionally, 82,00,000 convertible warrants were allotted at ₹128.50 each (with 25% upfront) against conversion of another ₹26.34 crore unsecured loan. Separately, 32,00,000 warrants were cancelled to avoid breaching the 5% annual acquisition threshold. The company's paid-up equity capital rose from ₹7.57 crore to ₹8.77 crore.
This is a debt-to-equity swap that strengthens the balance sheet by converting promoter loans into equity, but it significantly boosts promoter group shareholding (to over 60%, potentially ~67.75% on full warrant conversion), leaving minority shareholders more diluted if warrants are exercised.