Omaxe is currently trading at Rs 142.50, up by 1.35 points or 0.96% from its previous closing of Rs 141.15 on the BSE.
Omaxe is planning to raise around Rs 300 crore from equity market. The company will use the fund to launch six projects across North India. The company will raise the same either through qualified institutional placement (QIP) or institutional placement programme (IPP).
Moreover, the company is in the process of launching six to seven projects in Indore, Bhiwadi, Rohtak, Chandigarh, Faridabad, Jaipur and Vrindavan. The launches would happen in the second quarter of the current financial year.
Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.
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