Omaxe Pays Off Debt, Fuels Growth with New Funds

18 Jan 2024 CW Team

Omaxe Group, a listed real estate developer, has completed the early closure of a Rs 440 crore loan while securing fresh financial assistance of Rs 450 crore from Kotak Mahindra Bank, signifying a strategic financial maneuver for future growth.

The company fully repaid the loan from Credit Solution India Trust (Varde Partners) along with accrued interest, demonstrating its financial discipline and commitment. Rs 290 crore of the new funding from Kotak Mahindra was used to repay Varde Partners, while the remaining Rs 160 crore will be channeled towards ongoing project development.

"This development significantly fortifies our position for sustained growth and success," said Atul Banshal, Omaxe Director of Finance. He expressed thanks to Varde Partners for their support in the Omaxe Chowk project and reaffirmed the company's commitment to delivering exceptional real estate projects.

In line with this commitment, Omaxe Managing Director Mohit Goel had previously announced plans to launch projects spanning 1,200 acres in Tier II and Tier III cities across Uttar Pradesh, Madhya Pradesh, and Punjab, with an expected investment of Rs 4,000 crore over the next four years.

This strategic financial move and planned project expansion underscore Omaxe's focus on consolidating its financial position while driving robust growth in the coming years.

Infrastructure Urban

26 Aug 2025

Jupiter Opens First EV Showroom in Hyderabad

Jupiter Electric Mobility Pvt Ltd (JEM), the electric commercial vehicle arm of Jupiter Wagons Ltd, has inaugurated its first showroom in New Bowenpally, Secunderabad, Hyderabad. The launch also marks the introduction of its 1.05-tonne four-wheeler electric light commercial vehicle (eLCV), JEM TEZ, to Telangana’s growing logistics and intra-city freight market. This expansion underscores JEM’s commitment to delivering purpose-built sustainable mobility solutions and accelerating the electrification of India’s logistics sector.The new showroom, operated by Arven Motors Pvt Ltd, offers cus..

Premier Energies Launches 620W DCR Solar Modules in India

Premier Energies Limited, one of India’s largest integrated solar manufacturers, has launched its next-generation 620W DCR solar modules using G12R TOPCon technology, now among the most powerful large-format panels available in the country.The new modules, built with Tunnel Oxide Passivated Contact (TOPCon) architecture, deliver superior power density, improved temperature coefficients, and enhanced low-light performance. The rectangular G12R N-type cell design enables higher string power and balance-of-system optimisation, making the panels suitable for utility-scale projects as well as com..

ONGC Starts Gas Sales from Rajasthan Chinnewala Tibba Block

Oil and Natural Gas Corporation Limited (ONGC) has commenced natural gas sales from the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, marking the successful monetisation of the Chinnewala Tibba field in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). Gas sales officially began on 25 August 2025.This development highlights ONGC’s commitment to boosting domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum and Natural Gas. Located in western Rajasthan, close to the Indo-Pakistan border, the Chinnewala Tibb..