Emaar MGF IPO gets nod

The company had filed draft red herring prospectus (DRHP) with Sebi on September 29 last year.“We have received the final observations to our DRHP from the regulator. As per the new Sebi regulations we have a one year window to complete the IPO. The board of directors of the company are considering an opportune time to open our IPO,” company spokesperson said. Emaar MGF, a joint venture between Dubai-based Emaar Properties and domestic firm MGF, commenced its operations in the country in 2005. As of August 31, 2009, the company has a land bank of 11,340 acres.

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