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This is an archive article published on January 21, 2008

Emaar MGF to float Rs 7000 cr IPO

After the IPO by Reliance Power Ltd, real estate firm Emaar MGF Land Limited...

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After the IPO by Reliance Power Ltd, real estate firm Emaar MGF Land Limited, a joint venture between Emaar Properties PJSC of Dubai and MGF Development Limited of India, is raising Rs 7,000 crore from the market on February 1. The company has firmed up an initial public offering of 102,570,623 equity shares of face value Rs 10 each at a price to be determined through a 100% book-building issue. The issue proceeds will be used for part payment towards the acquisition of land and land development rights. The price band has been fixed between Rs 610 and Rs 690 per equity share.

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