Omaxe strengthens on plan to raise around Rs 300 crore

30 Jun 2014

Omaxe is currently trading at Rs 142.50, up by 1.35 points or 0.96% from its previous closing of Rs 141.15 on the BSE.

The scrip opened at Rs 141.85 and has touched a high and low of Rs 143.10 and Rs 141.65 respectively. So far 256372 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 152.30 on 09-Jun-2014 and a 52 week low of Rs 104.15 on 29-Oct-2013.

Last one week high and low of the scrip stood at Rs 146.00 and Rs 139.50 respectively. The current market cap of the company is Rs 2602.67 crore.

The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 13.08% and 11.92% respectively.

Omaxe is planning to raise around Rs 300 crore from equity market. The company will use the fund to launch six projects across North India. The company will raise the same either through qualified institutional placement (QIP) or institutional placement programme (IPP).

Moreover, the company is in the process of launching six to seven projects in Indore, Bhiwadi, Rohtak, Chandigarh, Faridabad, Jaipur and Vrindavan. The launches would happen in the second quarter of the current financial year.

Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.

Related Omaxe Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323