News
Omaxe Completes Before Time Closure of Rs. 440 Cr. Loan from Varde Partners


Delhi/ NCR, Jan 2024: Omaxe Group announced successful closure of loan facility obtained by Omaxe Heritage Pvt. Ltd. from Varde Partners, before its scheduled closure. A press release issued by the company says that, it has fully repaid the loan amount of Rs. 440 Crore, along with accrued interest on the same.
The company has secured new financial assistance totalling Rs 450 Crores from Kotak Mahindra Bank Limited. Out of this amount, Rs 290 Crore has been utilized to repay the facility initially obtained from Varde Partners. The remaining Rs. 160 Crore will be allocated for Development of its projects.


“We are delighted to announce the closure of Rs 440 Crore loan from Varde Partners. This reflects our financial discipline, commitment and resilience. This development significantly fortifies our position for sustained growth and success in our endeavours,” said Atul Banshal, Director – Finance, Omaxe.


“We sincerely thank Varde Partners for their support and guidance in executing our marque project, Omaxe Chowk. They have been valued partner for us and always supported our strategy and execution. They just not only funded the project, but also given their valuable suggestion for betterment of the Project from time to time. I am grateful for their collaborative spirit, vital for achieving milestones. We look forward to continued success and delivering exceptional real estate projects in coming years,” said Mohit Goel, MD, Omaxe.
The loan facility of Rs. 440 Crore from Varde Partners was initially procured in 2022, specifically for the Omaxe Chowk project. With the recent financial transaction, Omaxe Heritage has successfully settled the remaining balance of Rs. 290 Crore.
-
News2 weeks ago
Vegas Mall Brings Dinosaurs to Life with All-New Dino Park Experience
-
News1 week ago
Migsun Appoints MORES as Strategic Sales Partner for Alpha Central in Greater Noida
-
News3 days ago
TRG Group Unveils ₹400 Cr TRG The Mall in NCR
-
News4 weeks ago
NBCC Concludes E-Auction of Aspire Silicon City to AU Real Estate for ₹1,467 crore
-
Guest Column4 weeks ago
Yamunanagar Real Estate: Rising Growth Story in Haryana
-
News3 weeks ago
Delhi-NCR Real Estate Market Steady Amid Slowdown: PropTiger Q1 2025 Report
-
News1 week ago
Shree Cement, RITES Sign MoU to Enhance Rail Infrastructure For Seamless Logistics
-
Guest Column3 weeks ago
Kundli-Sonipat Part of NCR Realty Boom Due to UER II, Delhi Metro, KMP Expressway, RRTS