Omaxe Ltd Approves Allotment of Rs. 18,50,00,000 Unrated Senior Secured Non-Convertible Debentures

Omaxe Ltd has approved the allotment of 185 Unrated Senior Secured Non-Convertible Debentures of face value of Rs.10,00,000 each, amounting to Rs. 18,50,00,000 on Private Placement basis. This is the third tranche of the total 1,994 NCDs having a face value of Rs. 10,00,000 each, amounting to Rs. 199.40 Crore. The NCDs will be redeemed in full at the end of the Tenor for an amount equal to the Issue Price plus the amount of Committed Return and additional return (if any). The charge/security created over the assets include an exclusive first charge by way of mortgage over the project land, leasehold rights, and development share, and an exclusive first charge by way of hypothecation over all bank accounts, receivables and over all current and non-current assets, both tangible and intangible, of the Project.