Bellanza & Blackstone Inject ₹1,060 Crore into Embassy Developments

Embassy Developments has raised ₹1,060 crore through the conversion of 12.7 crore unlisted warrants into equity by its promoter group, Bellanza Developers, and Blackstone affiliate NCL SG Holdings. Bellanza contributed ₹415 crore, while Blackstone invested ₹645 crore, reinforcing confidence in Embassy’s long-term strategy.

The capital infusion strengthens Embassy’s balance sheet and supports its expansion across key markets, including Bengaluru, MMR, NCR, and cities like Chennai, Jodhpur, and Vizag. The newly issued equity shares carry equal rights with existing ones. Following the allotment, the promoter group holds a 42.96% stake, and Blackstone Real Estate owns 10.93%.

With 8.9 crore warrants still eligible for conversion by November 2025, Embassy plans to channel the funds into launching 7.7 million sq. ft. of projects valued at over ₹15,000 crore, according to CEO Sachin Shah.

News by Rahul Yelligetti.