VCCircle

Probably real estate developer Emaar MGF's IPO is at the right time. Just when the Fed cut rates and interest rates are expected to go southwards - albeit marginally - Emaar MGF, a joint venture between Dubai's Emaar Properties and Delhi-based MGF Group, has filed for IPO with market regulator SEBI. The company will sell 117 million shares, and may look at raising about Rs 4,000 crore or $1 billion from the issue. The group is expected to dilute about 10 per cent stake.
The issue is managed by Enam Securities and DSP Merill Lynch, who will be joined by Citigroup Global Markets India, Kotak Mahindra Capital, HSBC Securities, JPMorgan India and Goldman Sachs (India) Securities.
Emaar MGF is engaged in the development of properties in the residential, commercial, retail and hospitality sectors.