Omaxe has got shareholders' nod to raise up to Rs 500 crore through issuance of securities. The proposal was approved at the company's annual general meeting held on September 26, 2019.
According to the proposal, in order to augment long-term resources for financing the ongoing capital expenditures and for general corporate purposes, the company will issue securities in one or more tranches to raise up to Rs 500 crore.
Omaxe is an India-based company engaged in real estate and infrastructure businesses. The Company operates in two segments Real estate and Construction.