Emaar MGF IPO: To apply or not to apply?

jalmohd · #1 31st January 2008, 04:53 PM

Emaar MGF Land Ltd., a joint venture between Emaar Properties PJSC of Dubai, and MGF Development Ltd of India is entering the market with a Rs. 7,079 crore IPO, the third largest after Reliance Power and DLF.

The question here is, in this market situation, and how most of last year's Real Estate IPOs have not performed so well, would a Rs.610 - 690 price at IPO be justified?

As on Friday 26th, Purvankara Projects(-8.26%)and Brigade Enterprises(-19.86) fare below the IPO price, While Omaxe fares just 2% above issue price. Kolte Patil, DLF and HDIL seems to have held up.

Apply? or wait for discount on listing?

excelcore · #2 1st February 2008, 07:58 PM

I applied. Hope i ll be up while listing...

vinodkum009 · #3 1st February 2008, 09:54 PM

Apply it will good ipo

buddi · #4 3rd February 2008, 02:12 AM

i am going to apply for this with refund of Rel power. even in the bad market future listed good. i am hoping this will be another good ipo.

ASMIPATHAK · #5 3rd February 2008, 10:14 AM

Apply for it, it will be a good IPO

abcd · #6 4th February 2008, 03:20 PM

Hi,
Emaar today's GMP is arond 45 to 50. Is it good for investing ?...
It's price band also decrease.I think, If market up then its GMP is also indcrease but still there is no movment in it.
Can i investing in this IPO ?..

tuxian · #7 4th February 2008, 06:36 PM

its nice ipo

guruguru · #8 4th February 2008, 07:42 PM

Emmar MGF..Aamir(shaikh) MilGayaFuntastic..
Guru,
MGF wale ne Shaikh ko sath me le liya. MGF bought land, Emmar got money. Now both are happy, as both already made 20X.....MGF may be 100x, who knows. Bhai pura company ban gaya. Now MGF controls 51% of company. MGF can fire Emmar MD and vice a versa.
Guru, company is fully leaveraged. land conversion ka paisa bhi nahi he. Company has taken Rs 5,288 crore of debt. With this money they hv bought all this land. Now company wants 6200cr. (by selling 10% of company to us, making 62,000cr. company). So that u and me pay him more in the IPO, as they have more land. Now they tell that they have ~550mnSqft of land. Only 100mnsqft land has got converted. Usake pas meghalaya me bhi land he.

Guru, thoda number pe nazar dalo.
Q108: Rs 502 crore with PAT of Rs 129 crore,
Unitech ka market cap/is Rs 61,000 crore.Yearly profit will be close to 2000cr. ~8 times more. Even land holding is also close to 800mn.sqft. Unitech is still far far cheaper than Emmar-MGF.

Guru, Who parsvnath and Omaxe are showing more profit. On converted land basis they are showing more land

Guru, Agar shaikh ke paise se apna mkt chalata to who log dubai ka shares kyo nahi chalate. Kyo waha pe mandi chal rahi he.

Issue to bhar jayega. Short term me Chalega ?? Kyo risk le raho ? Guru.

coolcritic007 · #9 5th February 2008, 10:29 PM

The price band of the IPO seems strange. The difference betwwen the lower and the upper price band is a whopping Rs.90. In any case, I am not personally interested in this IPO but all those applying should apply at the cut-off price. But again, the cheque in that case will have to be made for the upper price band, which will make the difference unavailable for the applicant to invest in other stocks. RPower was a different thing, but with the IPO market at the peak with FCH and REPL, and the GMP of some new IPO's being negative, I doubt the success of even established names like Emaar and Wokhardt! Anyways, good luck to all investors

yatishjain · #10 8th February 2008, 03:33 PM

Emaar MGF takes back its IPO, refund in 15 days..... Congratulations