Embassy Developments Gains Strength with Rs 1,060 Crore Infusion

Embassy Developments Ltd has received Rs 1,060 crore from its promoters and Blackstone-affiliated investors. This capital infusion, through conversion of warrants into equity shares, strengthens its equity base. Promoter and Blackstone shares stand at 42.96% and 10.93% respectively, fostering confidence in the company's growth strategy.

Embassy Developments Ltd announced an infusion of Rs 1,060 crore capital from its promoters and a Blackstone-affiliated firm on Friday.

The company stated that the funds were procured by converting unlisted warrants into equity shares, benefiting both the promoter group and a major shareholder.

This substantial capital increase underscores the promoters' confidence and aims to bolster the company's operations and financial health, with revised promoter and Blackstone shareholdings at 42.96% and 10.93% respectively.

(With inputs from agencies.)