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Realty firm Omaxe Ltd has raised INR 431 crore through the issue of Non-Convertible Debentures (NCDs) on a private placement basis. This capital infusion, primarily for business growth, was executed through its subsidiary, Omaxe New Chandigarh Developers Pvt Ltd. The move follows Omaxe's recent announcement of acquiring a 450-acre land parcel in Indore for a large township project with an investment of INR 1,200 crore. This fundraising via NCDs highlights Omaxe's strategy to expand its presence across North and Central India, building on its extensive development portfolio.
Realty firm Omaxe Ltd has successfully raised INR 431 crore through the issue of debentures on a private placement basis. This capital infusion is intended to support the company's ongoing business growth. Advertisement
In a regulatory filing today, Omaxe announced that its subsidiary, Omaxe New Chandigarh Developers Pvt Ltd, raised INR 431 crore by issuing and allotting 43,100 Non-Convertible Debentures (NCDs). Each NCD has a face value of INR 1 lakh. NCDs are fixed-income securities with set tenures and interest rates, used by companies to raise capital without offering the option to convert them into equity shares. Private placement means these securities are sold to a select group of investors rather than through a public offering.
This fundraising initiative follows Omaxe's recent announcement regarding the acquisition of a 450-acre land parcel in Indore. The company plans to develop a large township on this land, involving an investment of INR 1,200 crore. This acquisition is part of Omaxe's strategy to expand its reach in key urban centers.
Omaxe Ltd is recognized as one of India's leading real estate firms. The company has a presence in 30 cities across eight states in North and Central India. Since its inception, Omaxe has delivered more than 135 million square feet of area, showcasing its history in diverse real estate projects, from integrated townships to commercial and residential developments.
The funds raised through these NCDs are typically used to finance working capital needs, acquire land, or support ongoing projects, further enabling the company's development pipeline.
Source- PTI
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