The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for NCL SG Holdings Pte Ltd
EMBDL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 0.5 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.
Minute windows have no benchmark: there is no intraday index history to compare against.
NCL SG Holdings Pte Ltd, a Singapore-based entity that is NOT part of the promoter group, converted 7,71,23,128 warrants into equity shares of Embassy Developments Limited on 15 May 2025. This was done under a securities subscription agreement originally signed in April 2024. After the conversion, NCL SG Holdings holds 11,07,52,399 equity shares in the company, representing 8.387% of the expanded equity share capital (up from 2.751% previously). The company's total equity share count increased from about 122.25 crore to 132.06 crore shares as a result of this allotment. On a fully diluted basis, NCL's holding remains at 7.701% since the warrant position simply converted to shares.
This is a pre-agreed warrant conversion, not fresh market buying, so it reflects a prior commitment rather than new confidence. Existing shareholders face mild dilution as the share count expanded, but no cash was raised from the market for this specific tranche.