Omaxe raises Rs 431 cr through  issue of debentures for biz growth

 NEW DELHI, July 28:  Realty firm Omaxe Ltd has raised Rs 431 crore through the issue of debentures on a private placement basis for business growth.

  In a regulatory filing on Monday, the company informed that its subsidiary — Omaxe New Chandigarh Developers Pvt Ltd, has raised Rs 431 crore by issuance and allotment of 43,100 Non-Convertible Debentures (NCDs) of face value Rs 1 lakh each through private placement.

Recently, Omaxe announced an acquisition of a 450-acre land parcel in Indore to develop a township at an investment of Rs 1,200 crore.

Omaxe, which is one of the leading real estate firms in the country, has a presence in 30 cities across eight states of North and Central India. It has delivered more than 135 million sq ft of area since inception.  (PTI)