Omaxe jumps on launching fixed deposit scheme to raise Rs 250 crore

01 Feb 2013 Evaluate

Omaxe is currently trading at Rs. 163.90, up by 0.40 points or 0.24% from its previous closing of Rs. 163.50 on the BSE.

The scrip opened at Rs. 164.75 and has touched a high and low of Rs. 164.80 and Rs. 162.90 respectively. So far 56,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.20 on 04-Oct-2012 and a 52 week low of Rs. 139.50 on 07-Feb-2012.

Last one week high and low of the scrip stood at Rs. 165.40 and Rs. 160.85 respectively. The current market cap of the company is Rs. 2,844 crore.

The promoters holding in the company stood at 89.14% while Institutions and Non-Institutions held 3.39% and 7.47% respectively.

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

78.75 -2.75 (-3.37%)
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