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New Delhi, Sept 26 Emaar MGF Land, a joint venture between Dubai-based real estate giant Emaar Properties PJSC and MGF Development Ltd, today filed a draft red herring prospectus with market regulator SEBI for its initial public offer that is expected to garner about $1 billion.

“The company is proposing a public issue of about 117 million equity shares of Rs 10 each for cash at a price to be determined through a 100 per cent book building issue,” a company release said here.

According to market sources, the IPO is expected to raise $1 billion.

The global co-ordinators and book running lead manager to the issue are Enam Securities and DSP Merill Lynch. The book lead managers are Citigroup Global Markets India, Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India), JP Morgan India and Goldman Sachs (India) Securities.

The company is engaged in the development of properties in the residential, commercial, retail and hospitality sectors.The shares of the company are proposed to be listed on the BSE and the NSE.

More Stories on : IPOs | Real Estate & Construction

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