Emami Realty board approves INR 223 crore share, warrant issue

Emami Realty's board has approved the issuance of 59,90,000 fully paid-up equity shares and up to 1,14,00,000 convertible warrants, aiming to raise ₹223.46 crore. The preferential allotment, priced at ₹128.50 per equity share/warrant, will facilitate the conversion of existing unsecured loans. The allottees include Suraj Finvest Private Limited and Diwakar Finvest Private Limited, with each being allocated 29,95,000 shares and 57,00,000 warrants. The decision, made at a board meeting on February 26, 2025, is subject to shareholder and regulatory approvals. The extraordinary general meeting will convene March 21, 2025. Post-issue, Suraj Finvest's and Diwakar Finvest's shareholding would increase to 34.66% and 34.96%, respectively, upon warrant conversion.