The operations committee of the board of directors of Oberoi Realty approved issuance of non-convertible debentures of an aggregate amount of upto Rs 1,500 crore on private placement basis, the company informed in a BSE filing.
As security, first ranking pari passu charge on the rights, title and interest of the company on the unsold flats in projects ‘Eternia’ and ‘Enigma’ situate at Mulund (West), Mumbai, together with receivables therefrom and also from identified sold flats in the said projects, the escrow account and the investments made therefrom has been created, it said in the regulatory filing.Recently, the board had considered and approved the proposal for enabling raising of funds for an aggregate amount not exceeding Rs 6,000 crore by way of issuance of equity shares, eligible securities, other securities or instruments or any combination of securities, in one or more tranche or tranches, by way of private placement including a qualified institutions placement.
