Omaxe raises Rs 450 crore from Kotak Mahindra Bank
Blog: 450 crore from Kotak Mahindra Bank Kotak Mahindra Bank has come up to the raise and Omaxe has came up under unexpected twist on the site of it’s career as the company has raised 450 crores from the bank, the loan facility obtained by Omaxe Heritage from Varde Partners has been closed by Omaxe Group. The loan amount of 440 crores was fully repaid by the company. Interest on the same has accrued by the company. In 2022, or the Omaxe Chowk project, a loan facility of INR 440 billion was initially awarded. Omaxe Heritage settled the remaining balance of approximately 290 million rupees through its recent financial transaction. With an aim to streamline its financial structure, Omaxe has secured new financial assistance totalling Rs 450 crore from Kotak Mahindra Bank Limited and, out of this amount, Rs 290 crore has been utilised to repay the facility initially obtained from Varde Partners and the remaining Rs 160 crore will be allocated for development of its projects, the compa...
