India’s one of the top realty firm Omaxe declared that its promoters have raised Rs 250 crore by selling shares through the Offer for Sale (OFS) route and the funds would be infused into the organization to lift growth.

The promoters have brought down their stake in the company from 89 pc to 75 pc through the OFS device and a bonus issuance to comply with SEBI’s Minimum Public Shareholding Regulations.

In recent past, the reality major announced issue of 10 bonus shares to public shareholders for every 39 shares held by them in order to meet market regulator SEBI’s norm on minimum 25 pc public shareholding.

The realtor has decided to take permission of shareholders through postal ballot for issue of inclination shares.

The net worth of the company would be Rs 2,250 crore posts the allotment of preference shares.

Gross Debt in this current fiscal is stood at Rs 1,072 crore.

With the more capital investment, the Gross debt equity ratio of the realtor will be 0.55, while the net debt equity ratio stands at 0.42, which is by far the lowest in the industry.

The firm has been regularly paring its debt from Rs 1,989 crore in FY’2009 to the current levels.

The realty major has presence in 9 states across 30 cities. The company is currently undertaking 42 real estate projects – 14 group housing, 19 townships, 9 commercial projects.