Embassy Developments has raised Rs 1,020 crore through the allotment of 1,02,000 senior, secured, redeemable, unrated, unlisted non-convertible debentures (NCDs) having a face value of Rs 1,00,000 each on a private placement basis, out of the total approved issue size of Rs 1,570 crore.
Out of the aggregate proceeds of Rs 1,020 crore, approximately Rs 920 crore will be utilized towards repayment/refinancing of existing indebtedness, and the balance towards project construction, working capital requirements and/or other general corporate purposes, in one or more tranches, as may be required. The Board’s constituted committee of the company at its meeting held on July 15, 2026, has, inter-alia, approved the same.
Embassy Developments (formerly known as Equinox India Developments and earlier as Indiabulls Real Estate) is one of India’s leading real estate developers, specializing in the construction and development of residential, commercial, and Special Economic Zone (SEZ) projects across Indian cities.
