Embassy Promoters Inject Rs1,160CR to Boost Growth and Equity Strength

Embassy Developments Limited (EDL), one of India’s leading real estate developers, has announced the completion of a Rs1,160 crore promoter fund infusion through full subscription of preferential warrants. The final tranche of Rs67.7 crore was converted into equity shares at Rs111.51 per share, taking the promoter group’s stake to approximately 41.4%.

The capital will be used to strengthen EDL’s balance sheet, accelerate project completion, and support expansion across Bengaluru, Delhi NCR, and the Mumbai Metropolitan Region. A total of ~10.4 crore fully paid-up equity shares have been allotted to the promoter group and its affiliates.

Rajesh Kaimal, CFO of Embassy Developments, stated, “The completion of promoter investment reflects their strong confidence in EDL’s strategy and long-term vision. With a strengthened equity base, we are well positioned to accelerate project delivery, pursue strategic growth opportunities, and expand our presence.”

Embassy Developments, formerly known as Equinox India Developments and earlier Indiabulls Real Estate, specializes in residential, commercial, and SEZ projects across major Indian cities. Its portfolio spans branded residences, luxury villas, townships, and senior living communities, with a strategic focus on Bengaluru, MMR, and NCR.

Following the NCLAT-approved merger with Nam Estates Private Limited in January 2025, the Embassy Group—led by Mr. Jitendra Virwani and Mr. Aditya Virwani—became the new promoter, consolidating a 41.4% controlling stake. The company was officially renamed Embassy Developments Limited on February 13, 2025.