Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Investments

Embassy Group Invests INR 1,160 Cr in IBREL

Jitendra Virwani, Chairman & Founder of the Embassy Group said, “Being the largest shareholder, our commitment to the IBREL platform remains intact.

author-image
SMEStreet Edit Desk
08 Apr 2024 11:15 IST

Follow Us

New Update
Jitendra Virwani, Chairman & Founder of the Embassy Group

Jitendra Virwani, Chairman & Founder of the Embassy Group

Listen to this article
0.75x 1x 1.5x
00:00 / 00:00

Key Transaction Highlights:

Preferential Allotment:

  • Invests INR 10 Cr in equity shares & INR 1,150 Cr in warrants; 25% upfront & balance over 18 months

  • Floor price of INR 111.51 per share as per SEBI guidelines including valuation by one of the Big 4 firms

  • Embassy to remain as the largest shareholder with 18.7% ownership (on a fully diluted basis)

Asset / Project Contributions:

  • 31-acre / 93-villa proposed project in North Bengaluru 

  • 0.5 msf highrise residential project in Whitefield, Bengaluru with all approvals

  • 1.4 msf proposed high-rise project in Chennai which is part of an existing township

  • Acquisitions basis valuations at an ~8-16% discount to average of two independent valuations

Other Corporate Actions:

  • Future Asset Contributions: Embassy to provide IBREL a right of first opportunity to acquire identified existing assets of Embassy and potential future assets subject to mutually agreed terms and conditions.

  • Board Nomination: Mr. Jitendra Virwani to be appointed as Embassy’s nominee director to the Board of Directors of IBREL

Jitendra Virwani, Chairman & Founder of the Embassy Group said, “Being the largest shareholder, our commitment to the IBREL platform remains intact. This investment is to provide a pipeline of assets to IBREL for future growth while bringing prestigious investors to the shareholder roster. The transaction also offers growth to the listed entity by penetrating the key south Indian markets of Bengaluru and Chennai.”

 

Embassy Group IBREL
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!