Jitendra Mohandas Virwani, Aditya Virwani, JV Holding Private Limited, Karan Virwani, Neel Virwani, Embassy Property Developments Private Limited, OMR Investments LLP, Bellanza Developers Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Embassy Developments Limited's promoter and promoter group have filed the annual declaration required under SEBI's takeover regulations for FY 2024-25. The promoter group became classified as such with effect from January 24, 2025, following the merger of NAM Estates Private Limited into the company (formerly Equinox India Developments, earlier Indiabulls Real Estate). Together, they hold 53,00,55,556 equity shares, representing 43.36% of the company's paid-up share capital. The largest individual holdings are JV Holding Private Limited (19.89%) and Embassy Property Developments Private Limited (15.85%). The declaration confirms that the promoters have not created any encumbrance (pledge or charge) on their shares since being classified as promoters till the end of FY25.
This is a routine annual compliance filing and carries no negative implication for shareholders. The key takeaway is that promoter holding stands at 43.36% — below the 50% threshold — meaning any future acquisitions beyond 5% per year would attract open offer obligations under SEBI takeover rules.