Rushh

Emaar Properties PJSC of Dubai with MGF Development of India with its joint venture of the Emaar MGF Land is planning to come out with a IPO real soon. The two companies have already filed the DRHP with the Securities and Exchange Board of India in a bid to enter the capital market.

Emaar MGF is set to offer about 117 million shares of 10 Rs each through a complete book building process. The IPO is going to be a big one and will easily reach 1 billion dollars. Emaar MGF have plans to raise atleast close to 4500 crores with this issue.

Enam Securities Private Limited and DSP Merill Lynch Limited are jointly the book running lead managers and are all ready to bring in another successful IPO.

The company is in value added realty sector mainly into land development and other ammenities. They plan to develop property in the healthcare, educational and other sectors.