Vikas Rikhye

Vikas Rikhye,Real Estate Blogger

As we are aware that quite a few real estate companies had launched their IPOs in 2007,but major share of the cake was taken by DLF ,who bagged over Rupees 9000 crores.

Now it seems to be turn of Emaar MGF Land, a JV between one of the world’s largest Dubai based real estate group & MGF Group from India.

It is understood that The Motor & Finance Limited (MGF) one of the oldest finance company of India was incorporated in 1930 under the leadership of Shri Ved Prakash Gupta, the founder chairman of the company and under his guidance MGF became a leading Finance company of the country.

While Emaar Properties, Dubai - based Public Joint stock enjoys the reputation of a very successful track record of growth. Emaar Properties had been the Recipient of Best Developer” award in the year2006 in UAE for 2nd consecutive year.

With joining hands together Emaar MGF have acquired land bank of over 12400 acres,Spread over 22cities in 16 states of India. The company is developing properties in Residential, Commercial & Hospitality sectors across India. They have their ongoing commercial projects in over eight major cities in India.In near future, they have identified to get into Healthcare , Education & Infrastructure project as well.

It is understood that Emaar MGF has got the approval from ” Securities and Exchange Board of India” (SEBI) to launch its Initial Public Offering (IPO) This IPO seems to be the 2nd largest IPO in the country as it is expected to raise over 6000 crores. With offloading over Ten crore shares in the market & the share price is expected to be between Rupees 500-600 per share.

Emaar-MGF after bringing largest FDI in Real estate and now with this IPO makes it one of the strongest Real estate companies in India.