Emaar MGF has withdrawn its IPO, reports CNBC-TV18. The company will consider other funding options like private placement, PE at SPV level. They will refund IPO money in the next 10-15 days.
Low debt-equity ratio is an advantage for the company and IPO withdrawal is not going to impact company's projects. 'Enough funding' is available with the company.
Shravan Gupta, MD, Emaar MGF said they may consider an IPO after three to six months. He said the IPO was withdrawn because price appreciation post listing was a challenge. But he believes valuations were justified at the IPO price band.
Excerpts from CNBC-TV18's exclusive interview with Shravan Gupta: Click Here
Source : moneycontrol.com