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Omaxe launches fixed deposit scheme to raise Rs 250 crore

31 Jan 2013 Evaluate

Omaxe, one of India’s leading real estate companies has launched a Fixed Deposit (FD) scheme that pays an annualized yield of 15.07% over three years, much higher than bank deposits. The company expects to raise Rs 250 crore through this scheme by the end of next financial year. The minimum investment has been fixed at Rs 25,000 with interest being compounded monthly and payable quarterly in non-cumulative scheme and payable on maturity in cumulative scheme.

The maximum tenure under both the schemes is three years with interest rate of 12.50% p.a. An additional amount in multiples of Rs 100 is allowed under the scheme. Under the scheme, the company is paying an annual interest of 11.50% for six months, 12% for one year, 12.25% for a period of 2 years and 12.50% for a period of 3 years.

As per the companies ( Acceptance of deposit ) Rules,1975 the company can raise approximately Rs 526 crore including Rs 151 crore from the shareholder by the end of March 2014, the company aims to raise a sum of Rs 250 crore though this scheme.

Omaxe Share Price

73.95 -5.15 (-6.51%)
21-Apr-2026 09:07 View Price Chart
Peers
Company Name CMP
Lodha Developers 855.05
Dilip Buildcon 445.60
DLF 597.70
Oberoi Realty 1720.05
Ahluwalia Contract(I 826.25
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