Omaxe Ltd Expands Horizons with Rs 431 Crore Debenture

Omaxe Ltd, a prominent real estate firm, has raised Rs 431 crore through debentures via private placement. The subsidiary, Omaxe New Chandigarh Developers Pvt Ltd, issued 43,100 Non-Convertible Debentures to fund its growth. Omaxe plans a major township development in Indore with a Rs 1,200 crore investment.

Real estate titan Omaxe Ltd has successfully secured Rs 431 crore by issuing debentures on a private placement basis to bolster its business growth.

According to a regulatory filing on Monday, subsidiary Omaxe New Chandigarh Developers Pvt Ltd has raised the funds through the issuance and allotment of 43,100 Non-Convertible Debentures, each bearing a face value of Rs 1 lakh.

Alongside this financial move, Omaxe has recently acquired a 450-acre tract in Indore for a township project, marking a Rs 1,200 crore investment aimed at expanding its real estate footprint across North and Central India.

(With inputs from agencies.)