Mohit Goel, CEO of Omaxe says the company is in talks with a lot of merchant bankers and the interest will most probably be below the average cost of borrowing. "The coupon rate for the NCD is yet to be finalized," he told CNBC-TV18.
The Omaxe board has approved a proposal to raise Rs 500 crore over the next 2-3 years to fund ongoing projects. Talks are on to raise Rs 100 crore via NCDs in the next couple of months.
Mohit Goel, CEO of Omaxe says the company is in talks with a lot of merchant bankers and the interest will most probably be below the average cost of borrowing. "The coupon rate for the NCD is yet to be finalized," he told CNBC-TV18.
Currently, the company has a total debt of Rs 1,000 crore and in the next fiscal year it will remain in the Rs 800-1200 crore range, he adds.
Stay tuned for more…
Omaxe stock price
On December 03, 2014, at 14:10 hrs Omaxe was quoting at Rs 125.80, down Rs 1.3, or 1.02 percent. The 52-week high of the share was Rs 152.30 and the 52-week low was Rs 120.05.
The company's trailing 12-month (TTM) EPS was at Rs 2.66 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 47.29. The latest book value of the company is Rs 89.28 per share. At current value, the price-to-book value of the company is 1.41.
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