NEW DELHI: The Omaxe Group has successfully secured ₹500 crore in funding from Oaktree Capital Management L.P.
The financing will expedite the completion of residential, commercial, and public-private partnership (PPP) projects, enhancing the company’s infrastructure and growth initiatives.
“This capital infusion allows us to accelerate construction, lessen market reliance, and strategically invest in new ventures aligned with our core markets,” stated Mohit Goel, the company’s Managing Director.
Atul Banshal, the Finance Director, mentioned, “We have made significant strides to fortify our balance sheet and enhance financial flexibility in recent years, repaying substantial debt while maintaining consistent sales growth and developing easily monetizable projects. With no immediate repayment obligations, the majority of these funds will be directed towards swift execution and exploring expansion in select markets.”
In the past two financial years, the company has repaid a net ₹1,285 crore to lenders as principal payments, reducing its overall net debt to ₹300 crore.
In a separate regulatory announcement, Omaxe New Chandigarh Developers, a wholly-owned subsidiary, has successfully raised ₹431 crore by issuing and allotting 43,100 unlisted, senior, secured, redeemable non-convertible debentures (NCDs) with a face value of ₹1 lakh each through private placement. The funds have been sourced from the OCM India Opportunities XII Alternate Investment Fund Scheme I.
