Omaxe Limited has informed the Exchange regarding Outcome of Board meeting held on May 15, 2025.
OMAXE · price
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Omaxe Limited's Board has approved raising Rs. 199.40 crore through the issuance of up to 1,994 Unrated Senior Secured Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of Rs. 10 lakh, carries a committed return of 12% IRR, and has a tenure of up to 54 months from the date of allotment. The NCDs are secured by first charges on specific project assets (Grand Omaxe, Rajguru & Bhagat Singh project, and Project Resort-A&B in Chandigarh), along with personal guarantees from promoters Rohtas Goel and Mohit Goel and related group entities. Separately, the Board appointed Mr. Satbir Singh, a former IFCI senior executive with 35+ years of finance experience, as an Additional Director (Non-Executive and Independent) for three years.
The 12% high-yield NCD issue signals significant borrowing by the company, likely to fund real estate projects, which increases leverage and interest obligations. The dilution of promoter guarantees and project-level security suggests the company is tapping private credit to meet funding needs, which shareholders should monitor closely for any impact on cash flows or project delivery.