| Emaar MGF IPO on track, to open on Feb 1 |
| BS Reporter / New Delhi January 23, 2008 |
| The initial public offering (IPO) of real estate developer Emaar MGF will open on February 1. Asked whether the company is considering a delay in launching its IPO or lowering the price band due to volatility in the stock markets, Shravan Gupta, executive vice chairman and managing director, Emaar MGF Land, said: "Based on the response we have got from the road show and advice from merchant bankers, we believe this is a reasonably good time to go for an IPO." The company is offering 102.6 million shares, equivalent to 10.4% of its fully diluted post-issue equity share capital, in a price band of Rs 610-690 per share. The issue is expected to mop up between Rs 6,258-7,079 crore. Gupta said that post-issue, Dubai-based Emaar |
