Embassy Developments Limited has approved raising additional funds through the issuance of senior, secured, redeemable, unrated and unlisted non-convertible debentures (NCDs) on a private placement basis.
The approval was granted by the company's board-constituted committee on July 6, 2026, increasing the overall fundraising limit under the NCD programme.
The board committee has approved raising additional funds of up to ₹1,170 crore through private placement of NCDs.
With this approval, the overall issue size has been enhanced from up to ₹400 crore to up to ₹1,570 crore, including debentures already issued or proposed to be issued by the company.
The company said the approval is an enabling authorisation, allowing it to issue debentures in one or more tranches, part-tranches or series as required.
The proceeds may be utilised for refinancing existing indebtedness, project construction, working capital requirements and other general corporate purposes, depending on the company's funding needs at the time of issuance.
The proposed securities comprise senior, secured, redeemable, unrated and unlisted non-convertible debentures with a face value of ₹1 lakh each.
The company clarified that the NCDs will be issued through private placement and are not proposed to be listed on any stock exchange. The tenure, coupon rate and other terms of the issue will be decided by the board-constituted committee at the time of issuance.
The proposed debentures will be secured by identified assets of the company and/or its subsidiaries in accordance with the Debenture Trust Deed.
The security package may be modified or revised from time to time as mutually agreed between the relevant parties.
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As of 07 July 2026, Embassy Developments share price was trading at ₹62.01 per share, reflecting a decline of 1.07% from the previous trading session.
Embassy Developments has enhanced its NCD fundraising programme to up to ₹1,570 crore through private placement. The additional capital will provide financial flexibility for refinancing debt, funding project construction, meeting working capital requirements and supporting other corporate purposes as the company expands its operations.
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Published on: Jul 7, 2026, 3:52 PM IST
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