Embassy Developments Raises ₹1,060 Cr via Promoter Group & Blackstone Fund

Embassy Developments, previously known as Indiabulls Real Estate, is reported to have raised approximately ₹1,060 crore in fresh equity capital through the conversion of warrants issued last year. The funds came from its promoter group and an institutional investor associated with global asset management giant Blackstone.

Preferential Allotment Seals the Deal

The capital raise was executed by converting around 127 million warrants that had been issued in May 2024, following shareholder approval under a preferential allotment. The equity shares were issued at ₹111.51 per share, following the receipt of the final 75% of the issue price. These newly issued shares hold equal rights with the existing equity capital.

Major Contributors: Bellanza and Blackstone-Affiliated NCL SG

Two key entities participated in the capital infusion:

• Bellanza Developers, part of the Embassy promoter group, contributed ₹415 crore.

• NCL SG Holdings, a fund affiliated with Blackstone Real Estate, invested ₹645 crore.

With this development, Embassy’s promoter group now holds a 42.96% stake, while Blackstone Real Estate Fund owns 10.93% of the company.

Strengthening the Balance Sheet and Future Expansion

According to the company, the fresh capital will not only fortify its equity base but also provide enhanced financial flexibility as it accelerates development across both residential and commercial segments in major urban centres.

Embassy Developments is gearing up for new projects totalling around 7.7 million sq ft, with an estimated development value exceeding ₹15,000 crore.

Leadership Commentary

Sachin Shah, CEO and Executive Director of Embassy Developments, noted that the investment would significantly strengthen the company’s ability to scale operations. He emphasised that the continued backing by the promoter group and institutional investors reinforces confidence in the firm’s long-term vision aligned with India’s real estate growth trajectory.

Strategic Focus Across Key Markets

Embassy Developments continues to operate across residential, commercial, and special economic zone projects. Its core markets include Bengaluru, the Mumbai Metropolitan Region, and Delhi NCR, along with an extended presence in cities like Chennai, Jodhpur, Vadodara, Visakhapatnam, and Indore.

Disclaimer: This news article is a rewritten version of publicly available information for educational and informational purposes only. It does not constitute financial advice or an endorsement of any company or investment.