To offer 11.74 crore shares via IPO
Emaar MGF Land plans to offer up to 11.74 crore shares through an initial public offering of shares in India at a price to be decided by the book-building process.
The real estate company, a joint venture of Dubai's Emaar Properties and Indian real estate developer MGF Developments, has filed a prospectus with Sebi to sell shares with a face value of Rs 10.
The proposed number of shares to be offered include a pre-IPO placement and shares issued upon conversion.
Enam Securities and DSP Merill Lynch are the book-running lead managers for the IPO.
The company plans to construct residential, retail and hospitality properties in India.