Emaar MGF Land, a joint venture between Emaar Properties PJSC of Dubai, and MGF Development Limited of India, has subscribed 0.58 times till now, as per NSE website. Most bids are at Rs 540, a lower end of price band of Rs 540-630. Maximum response has been seen from qualified institutional investors, which is also undersubscribed.
The issue has opened for subscription with its initial public offering of 102,570,623 equity shares and will close today, February 6, 2008. The new price band for the issue is between Rs 540 and Rs 630 per equity share of Rs 10 each.
Maximum response has been seen from qualified institutional investors, which is also undersubscribed.
The issue proceeds will be used for part payment towards the acquisition of land and land development rights and related approvals for its ongoing and planned projects, the development and construction costs for project Palm Drive in Gurgaon and repayment of loans.
The global co-ordinators and book running lead managers to the issue are Enam Securities Private Limited and DSP Merrill Lynch Limited. The book running lead managers are Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited and ICICI Securities Limited.
Source: Moneycontrol.com
Wednesday, February 6, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment