Omaxe has received its board’s approval to raise funds upto Rs 600 crore by various means including issuance of further securities to persons other than the existing equity shareholders.
The company’s board gave the approval at its meeting held on May 30, 2011.
Omaxe started operations as a civil construction and contracting company and has executed over 120 prestigious industrial, institutional, commercial, residential and hospital construction projects. In the year 2001, the company entered the real estate development business. Today it is among the large real estate development companies in India.