Promoter group allotted 3.25 crore convertible warrants at INR 111.51 each
EMBDL · price
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On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.8 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Embassy Developments allotted 3,25,18,900 unlisted convertible warrants to promoter group entity Embassy Property Developments at INR 111.51 per warrant (INR 109.50 premium). The company received INR 90.65 crore as 25% upfront subscription. Warrants are exercisable within 6 months upon payment of the remaining 75%. No immediate change in equity capital; subject to SEBI lock-in rules.
Promoter group commitment may signal insider confidence, but exercise of warrants can dilute equity by up to 3.25 crore shares.