Omaxe to raise Rs 500 crore through debt securities

03 Dec 2014

Realty firm Omaxe is planning to raise up to Rs 500 crore through debt securities. The company’s board of directors at their meeting held on December 2, 2014 has considered and approved the issuance of secured non-convertible redeemable debentures and/or other debt securities for an aggregate amount of Rs 500 crore only in one or more tranche.

Omaxe has a land bank of about 4,400 acres in 30 cities across 9 states. The Delhi-based firm is executing 42 real estate projects that include 18 townships, 14 group housing and 10 commercial.

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