23-05-2025
Blackstone, Embassy entities Infuse Rs 1,060 cr into Embassy Developments
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An institutional investor backed by global alternative asset manager Blackstone Group, along with the promoter group of Embassy Developments , has infused around Rs 1,060 crore into the company through the conversion of unlisted warrants into equity equity was infused following the conversion of around 12.7 crore warrants originally issued in May 2024 under a preferential allotment approved by Embassy Developments shareholders, strengthening the developer's capital base and reaffirming long-term confidence in its growth shares were allotted at Rs 111.51 a piece upon receipt of the remaining 75% of the issue price, and rank pari passu with existing equity allottees include Bellanza Developers, an entity from the Embassy promoter group, and NCL SG Holdings , a fund affiliated with Blackstone Real Estate. The transaction signals a continued commitment from both stakeholders to Embassy Developments' long-term the total investment, Bellanza Developers has infused Rs 415 crore and NCL SG Holdings has deployed Rs 645 crore into the allotment, the company's revised shareholding of the promoter group stands at 42.96% and Blackstone Real Estate Fund at 10.93%. The Company has around 8.9 crore outstanding warrants pending conversion up to November 2025.'This infusion of capital strengthens our balance sheet and our ability to scale operations while creating sustained value for all stakeholders. We look forward to capitalising on India's real estate growth story,' said Sachin Shah, CEO & ED, Embassy to him, the equity participation underlines the continued confidence shown by the promoter group and other key shareholder in the growth plans of Embassy Developments , with its substantial pipeline of residential and commercial projects across the conversion is aligned with the company's previously announced strategic initiatives, including upcoming project launches across 7.7 million sq ft, valued at over Rs 15,000 Developments, or erstwhile Indiabulls Real Estate, is engaged in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian a strategic focus on Bengaluru , the Mumbai Metropolitan Region (MMR), and the National Capital Region (NCR), the company also has a presence in Chennai, Jodhpur, Vadodara, Vizag, and capital infusion is expected to bolster the company's equity base and provide added financial flexibility as it pushes ahead with its development pipeline across residential and commercial segments in key urban centres. Ends
