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Emaar MGF’s IPO withdrawn

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Emaar MGF Land has postponed its ongoing initial public offering. The company said that the IPO money will be refunded to the investors in next 10-15 days.

“The group is looking at other funding options like private placements to raise the corpus,” the company’s release said.

The IPO, which was to close on Monday, saw withdrawals and the overall subscription reduced to 0.43 times from 0.83 times in the morning.

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