Omaxe Ltd enters capital market with IPO of 17,79,652 shares

Bangalore, July 17 (UNI) Omaxe Limited, a North India-based Real Estate Development and Construction Company with operations in 30 cities in nine states, today announced its entry into the capital market with an Initial Public Offering of upto 17,79,652 equity shares of Rs 10 each for cash at a price band between Rs 265 and Rs 310 per equity share.

Talking to newspersons here, Company Joint Managing Director Sunil Goel said the issue would close on July 20.

Replying to queries, he said the company was involved in residential and commercial real estate development projects ranging from integrated townships, group housing and retail, other commercial properties, hotels information technology and bio-tech parks to Special Economic Zones (SEZs).

The Centre had already cleared a multi-product SEZs to be located in Rajasthan, he said, adding the state government was yet to approve the project.

He said the company had delivered 120 projects so far and had 52 ongoing projects in nine states. Fourteen commercial projects were also underway.

The main strategy was to focus on integrated townships in tier two and tier three cities across the country. In all 300 such townships would be developed from Kashmir to Kanniyakumari, he added.

UNI