Emaar MGF files IPO prospectus

Agencies
Posted: Tuesday, Sep 29, 2009 at 1807 hrs IST
Updated: Tuesday, Sep 29, 2009 at 1807 hrs IST

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New Delhi: Real estate major Emaar MGF filed its draft prospectus for the second time with market regulator SEBI to raise up to Rs 3,850 crore through an initial public offer.

According to sources, the company has filed the Draft Red Herring Prospectus (DRHP) with SEBI to raise up to Rs 3,850 crore, which is much lower than what it had planned to mop up last year.

The company planned to raise over Rs 7,000 crore last year through an IPO, but withdrew it due to poor market response, even after revising the price band downward after the offer.

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