Pursuant to regulation 30of SEBI (LODR) Regulation, 2015, we are pleased to inform you that the Company has to create offer and issue and allot Convertible Warrants into Equity Shares on ....
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The Board of Emerald Leisures Ltd approved the issuance of up to 29,68,000 convertible warrants on a preferential basis at ₹225 each (face value ₹5, premium ₹220), aggregating to approximately ₹66.78 crores. The warrants will be allotted to 51 investors, including Promoters, Promoter Group members and Non-Promoters, subject to shareholder approval. Warrant holders must pay 25% upfront and the balance 75% on conversion, which can happen in tranches within 18 months from allotment; unexercised warrants will lapse and the upfront amount will be forfeited. An Extra-Ordinary General Meeting has been scheduled for November 10, 2025 to seek shareholder approval.
On full conversion, the promoter group's holding will come down from about 62.25% to roughly 55%, causing dilution of around 6-7% for existing public shareholders. Since only 25% of the issue price is payable upfront, the company raises roughly ₹16.7 crores immediately and the rest is contingent on conversion, reducing immediate dilution but extending uncertainty over a long 18-month window.