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Thursday, March 04, 2010

SEBI clears Emaar MGF public issue

Securities and Exchange Board of India, SEBI has cleared Emaar MGF public issue. According to company officials, timing of issue will be decided soon. The company has a one-year window. However, the officials says, they do not want issue at time of volatily.

Emaar-MGF had earlier planned to tap the markets in February 2008. It was looking to raise over Rs 6,400 crore in the price band of Rs 530-630. But the company had to withdraw the issue due to weak market conditions post the US subprime crisis and was unable to raise the money.

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