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February 10, 2008

Emaar MGF Land Limited withdraws IPO

After Wockhardt Hospitals, Emaar MGF is second IPO to be withdrawn because of lack of response from investors.

Emaar MGF Land Limited IPO which was earlier planned to closed on 06 Feb was subscribed 0.75 times by end of the earlier closing date. Even reduction in price and extension of closing date did not help as subscriptions instead of increasing started falling down because of withdrawal of application.

Considering all this the issue has been withdrawn.

Reliance Power listing now hold the key. If Reliance Power list lower then all IPO in near future like Rural Electrification Corporation will get hit.

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