Emaar MGF IPO extends by 5 days to Feb 11

Under subscription on the last day has forced Emaar MGF Land, a joint venture between Emaar Properties PJSC of Dubai and MGF Development Limited of India, to extend its issue by five days with the permission from market regulator, Sebi. Now the issue will close on February 11 instead of February 6, reports CNBC-TV18.

It has subscribed 0.74 times till now. As per Sebi regulations, the company has to receive a minimum subscription of 90% of the issue.

The company also revised its lower end of price band to Rs 530 from Rs 540, so the new price band is Rs 530-630 per share. This is the second time of revision in price band from the company, due to negative sentiment across the global markets, which impacted Indian markets as well. The first price band was Rs 610-690 which the company changed it to Rs 540-630.

How Is D Company
Should I Go Ahead With The Ipo
Reply

@ZENITHJAIN

Please refer below

http://www.traderji.com/initial-pub...ession-check-whether-apply-emaar-mgf-ipo.html

Stay away from the IPO market presently, it will suck all your money. And the rate at which GMP is going down, better invest in secondary markets which will give you good returns. As far as these IPO's are concerned, with the constant revision of price band and application for extentsions, they have made the primary market a joke. Plus, for Emaar, its silly to see a difference of Rs. 100 in the price band. Anyway the IPO is overvalued at even Rs.530. Would think about it if they offered at Rs.300. Even REPL and FCH were overvalued, but with solid backing, it was a different story altogether in their case. I suggest to keep a safe distance from the primary market in these tough times.

thanx sir
acttualy i am the beigner in stock market
i suscribe for emaar mgf for 15 lot 630 cut off
but this news make me afraid
so tell me please that i will continue with this ipo to 11feb.
or withdraw

I am no expert in the stock market but applying for Rs.630 for Emaar is too much. I suggest you withdraw your application since this IPO has been reduced to a bundle of jokes. Wokhardt withdrew their IPO and though this might not happen with Emaar, it is highly unlikely that it will list over Rs.650.

Agreed, the IPO is turning out in a disaster.

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