Omaxe, a leading real estate developer of the country, has been working out plans to raise funds worth Rs 1800 crore through different modes. In addition, the developer has decided to increase the FII limit in the company to 40% from 24% in a bid to attract foreign investment in the company. 

The firm is also working out plans to issue securities, on private placement basis, to qualified institutional buyers (QIBs) under its fund raising plans for which it has already received shareholder's approval.

The developer said, in a filing before Bombay Stock Exchange, that it has increased authorized share capital of the company from Rs210 crore to Rs360 crore.

The recession hit realty firms have been working out plans to strengthen their financial position, restoring to QIP and preferential allotment of warrants to promoters. Reality firms such as Unitech, Parsvnath, Sobha Developers, HDIL, Puravankara, Anantraj Industries, Akruti City and Orbit Corp may sell shares in order to arrange funds, indispensable to maintain sufficient growth rate in the tough hours of economic slowdown.

Meanwhile, the stocks of Omax declined 10%, hitting the lowest trading limit Rs109.25 on the Bombay Stock Exchange on Monday.