NEW DELHI, India, September 20 /PRNewswire/ -- Omaxe Ltd., the leading real estate developer with pan-India presence, today prepaid the entire outstanding sum on debentures issued to LIC Mutual Fund. The Rs 1crore each Debenture of Series H with a total value of Rs100 crores were due for redemption on September 23, 2008.
Recently Omaxe had also pre-paid Rs. 50Crore on September 3, 2008 and Rs 25 Crore on Aug 28, 2008 against the said series. With this move the company has fully redeemed 100 debentures of entire series H of face value of Rs 1 crore seach.
Earlier this month, Omaxe Ltd had also pre-paid Rs. 25 Crores towards redemption of Rs.100Crores debentures of Series 'F' issued to Axis Bank Limited payable in 4 Quarterly Installments beginning September 29, 2008.
Strengthening the financial standing of the company, Omaxe Ltd had also prepaid 60% (Rs 180 crores) of the total term facility (Rs 300 crores) taken by the company from Indiabulls Financial Services Limited. Despite the fact that the term facility was for a period of 3 years, it was felt by the company to prepay the loan in order to free up the equity. Omaxe is also planning to retire the outstanding of Rs 120 crores in shortly.
For more details, please contact:-
Dhananjay Srivastava
DGM - PR & Media
Omaxe House
Mobile:+91(0)9818099270
Anurag Nigam / Neeti Mathur
Adfactors PR Pvt Ltd
Mobile: +91(0)9818296645/ +91(0)9871551232
SOURCE Omaxe Ltd
International News / Press Release source: PR Newswire
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