India’s Omaxe to sell Rs. 5 billion secured nonconvertible debentures

By Tali Rackner

Norfolk, Va., Dec. 2 – Omaxe Ltd. informed the Bombay Stock Exchange that its board of directors met on Dec. 2 and approved raising Rs. 5 billion of secured nonconvertible redeemable debentures and/or other debt securities in one or more tranches.

The board also formed a committee and delegated the powers for further actions on the issue.

Omaxe is a real estate developer based in New Delhi.

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