Emaar MGF IPO

September 27, 2007

Emaar MGF, The joint venture company between Dubai??™s largest real estate developer, Emaar Properties PJSC, and Delhi-based MGF Development Ltd, has filed its draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to enter the capital market with its initial public offering (IPO) of equity shares.

The company will offer about 117 million equity shares of Rs. 10 each.

Emaar MGF has projects in over 30 cities in residential, commercial, infrastructure, hospitality sectors across India.

“India is a key market for Emaar, and we already have a significant presence in the country through Emaar MGF, our joint venture partnership with MGF Land Development,” an Emaar spokesperson said.

Posted in IPO