Emaar MGF to go Public

January 15, 2007	(1 votes, average: 5 out of 5)  Loading ...
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Parsvnath, Sobha Developers, DLF …. and now Emaar MGF. A colossal Rs.13, 000 public issue is reported to be in the offing from this Delhi based real estate builder. The company is a joint venture between Delhi’s MGF Developments and Dubai based Emaar Properties.

With 30 ongoing construction projects in residential, commercial, infrastructure, hospitality and special economic zones presently, the company expects to meet a substantial percentage of its requirement of $3 billion with this issue. Last year, it had received $1 billion through FDI.

MGF has interests in merchant banking, insurance, housing finance, stocks and asset management, corporate consulting, and single-point fund management for corporates. It is also in partnership with the International Finance Corporation, a World Bank associate, and with Citicorp Securities and Investments of the Citibank group.

Similarly, DLF will soon be raising Rs.13, 500 crores in the market, and almost 30 companies are expected to follow suit, generating Rs.25, 000 crores. Real estate firms Akruti Nirman, Omaxe, Gammon Infrastructure, Purvankara, Ansal Buildwel and Ansal Properties, Goel Ganga, IVRCL, Simplex, and Malaysia’s IJM India Infrastructure are also likely to go public in 2007.

News Published Under:   Real Estate Developers |

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