Emaar MGF, a real estate firm, which is entering the capital market on Feb 01 with a public issue of 10.25 crore equity shares of Rs 10 each through a 100 per cent book building cuts its price band to Rs540-630 per share from the earlier Rs610-690. The price band was reduced with an aim to attract more investors to its issue by considering the prevailing market conditions and developments in the domestic and global finance markets. At the upper end of the band, the company would be able to raise about Rs 6,457 crore while at the lower end, it would mop up around Rs 5,535 crore.
Emaar MGF, which is a joint venture between Dubai-based Emaar Properties and India's MGF Development. . In the Emmar MGF JV, Emaar has 41.9 per cent stake while MGF Development has 53.3 per cent share.
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