Emaar MGF IPO Subscription on Feb 1st

Emaar MGF IPO will hit the Indian Capital Markets with an issue of over 10 crore equity shares on the 1st of Februay, 2008. Emaar MGF IPO price band has been fixed at Rs. 610 on the lower end and Rs. 690 on the higher end of the public issue. Emaar MGF Land is the Joint Venture company formed between Emaar Properties (Dubai) and MGF Development India where Emaar is one of the leading real estate firm in the world with majority of its operations in Dubai. Emaar MGF IPO has been graded by CARE and the Emaar MGF Land IPO received IPO Grade 4 which indicates good fundamentals of the company compared to other IPO’s hitting the markets. Emaar MGF IPO issue size is nearly as big as the DLF and the number of shares offered under the Retail Category is over 3 crore equity shares and investors who wish to book profits on listing can expect good returns and others who would like to keep this stock in their portfolio can also do as this will be a quality stock like the DLF. Emaar MGF Land has good land bank in India with over 13,024 acres available for development with a proposed area to sell at 565 million square feet and the consolidated income of the company for the past six months was over 500 crore.

Emaar MGF IPO Subscription closes on 6th February, 2008 and the IPO is proposed to be listed on the BSE and NSE exchanges. BRLM;s to the Emaar MGF Land IPO are Enam Securities and DSM Merrill Lynch. More information and updates regarding the Emaar MGF IPO Subscription and Emaar MGF IPO Allotment will be updated here. Do check back for Emaar MGF Land IPO Information.