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Thursday, September 27, 2007

Emaar MGF files for IPO


To offer 11.74 crore shares via IPO

Emaar MGF Land plans to offer up to 11.74 crore shares through an initial public offering of shares in India at a price to be decided by the book-building process.

The real estate company, a joint venture of Dubai's Emaar Properties and Indian real estate developer MGF Developments, has filed a prospectus with Sebi to sell shares with a face value of Rs 10.

The proposed number of shares to be offered include a pre-IPO placement and shares issued upon conversion.

Enam Securities and DSP Merill Lynch are the book-running lead managers for the IPO.

The company plans to construct residential, retail and hospitality properties in India.