Embassy Developments has allotted 3,25,18,900 unlisted warrants, convertible into an equivalent number of fully paid-up equity shares of the Company having a face value of Rs 2/- each, at an exercise price of Rs 111.51/- (including a premium of Rs 109.51/-) per warrant, to Embassy Property Developments, a member of the Promoter and Promoter Group of the Company, upon receipt of subscription money of Rs 90.65 crore, being an amount equivalent to 25% of the aggregate exercise price of the warrants.