Embassy Developments Limited — Important, 25-01-2025: General Updates

Allotment of 60,91,05,999 equity shares has been finalized following the NCLAT-approved merger with NAM Estates, translating to approximately 6,619 shares for every 10,000 shares held in NAM Estates as of the record date. This substantial increase boosts the company’s paid-up equity share capital to INR 2,36,49,63,392, divided into 1,18,24,81,696 shares.

Additionally, Mr. Jitendra Mohandas Virwani has been appointed as a Non-Executive Non-Independent Director. Virwani, with over 30 years of expertise in real estate, is expected to enhance the board’s strategic vision and operational capabilities, particularly given his extensive experience through the Embassy Group's growth. This development could lead to stronger strategic oversight, positioning the company for positive long-term growth.