EMAAR MGF
Emaar MGF has filed its DRHP with SEBI on 27th September 2007. It proposes to issue about 11.7crore equity shares of Rs 10 each for cash at a price to be determined through a 100 per cent book building issue. The IPO is expected to raise about Rs.4800 crore. It is planning to divest 10 per cent stake in the company to the public through the issue.
The global co-ordinators and book running lead manager to the issue are Enam Securities and DSP Merill Lynch. The book lead managers are Citigroup Global Markets India, Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India), JP Morgan India and Goldman Sachs (India) Securities. The shares of the company are proposed to be listed on the BSE and the NSE.
Emaar MGF, is a joint venture of Dubai-based real estate giant Emaar Properties with India's MGF Development. The company is engaged in the development of properties in the residential, commercial, retail and hospitality sectors.
In addition, it has taken steps to develop property in the healthcare, education and infrastructure sectors. Its operations span various aspects of real estate development such as land identification and acquisition; project planning, designing, marketing and execution.
The company has plans to construct master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities and stand alone development.
Some of the current projects under implementation include development of Palm Springs, Palm Drive, Gurgaon, Mohali Hills at Mohali, common wealth games village, Delhi and boulder hills, Hyderabad.