MGF IPO Latest News Today

As per NSE Notice ' Members are requested to note that the book building issue of EMAAR MGF LAND LIMITED which was scheduled to close on 11th Feb. 2008, has been withdrawn by the Lead Managers and now the Issue stands Close.'

Emaar MGF Land Ltd subscribed by 0.83 times. Non Institutional category subscribed around 0.9811 times while Qualified Institutional Buyers (QIBs) quota subscribed around 0.9923 times.

Retail Individual Investors (RIIs) category subscribed 0.4693 times.

As per NSE Notice ' Members are requested to note that the book building issue of EMAAR MGF LAND LIMITED which was scheduled to close on 11th Feb. 2008, has been withdrawn by the Lead Managers and now the Issue stands Close.'

Emaar MGF Land Ltd subscribed by 0.83 times. Non Institutional category subscribed around 0.9811 times while Qualified Institutional Buyers (QIBs) quota subscribed around 0.9923 times.

Retail Individual Investors (RIIs) category subscribed 0.4693 times.

Emaar MGF Land Limited IPO subscribed 0.75 times till 17:00:00 IST.  As per Sebi regulations, the company has to receive a minimum subscription of 90% of the issue. So the IPO which was scheduled to close on 6th Feb. 2008, is now extended by 5 days and now the issue will close on 11th Feb. 2008.

Once again the price band for the issue has been changed from Rs. 540/- to Rs. 530/- at lower level & upper level will remains same. This is the second time when company is revising the price band. The first price band was Rs 610-690 which the company changed it to Rs 540-630.

Incorporated in 2005, Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC ('Emaar') of Dubai and MGF Development Limited (“MGF”) of India. Emaar is one of the world’s leading real estate companies – having developed approximately 45.0 million square feet of real estate across residential, commercial and other business segments and with operations in 16 countries. Emaar's primary business is the development of properties in the residential, commercial, retail and hospitality sectors. They have also identified healthcare, education and infrastructure as business lines for future growth.

Emaar MGF Land Limited is entering in the capital markets with an initial public offering, IPO of 102,570,623 Equity Shares, for cash, at a premium to be decided through a 100% Book Built Issue.

The price band for the issue has been fixed at Rs. 540/- at lower level and Rs. 630/- at upper level for equity share of Rs. 10/-. The issue opens on Feb 01, 2008, and closes for subscription on Feb 06, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Incorporated in 2005, Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC ('Emaar') of Dubai and MGF Development Limited ('MGF') of India. Emaar is one of the world's leading real estate companies - having developed approximately 45.0 million square feet of real estate across residential, commercial and other business segments and with operations in 16 countries. Emaar's primary business is the development of properties in the residential, commercial, retail and hospitality sectors. They have also identified healthcare, education and infrastructure as business lines for future growth.

Emaar MGF Land Limited is entering in the capital markets with an initial public offering, IPO of 102,570,623 Equity Shares, for cash, at a premium to be decided through a 100% Book Built Issue.

The price band for the issue has been fixed at Rs. 540/- at lower level and Rs. 630/- at upper level for equity share of Rs. 10/-. The issue opens on Feb 01, 2008, and closes for subscription on Feb 06, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).