Emaar MGF Land to raise up to $1.5 bln in India IPO

HONG KONG, Jan 8 (Reuters) - The India arm of Dubai's Emaar Properties EMAR.DU plans to raise between US$1.2 billion and US$1.5 billion in an Indian IPO, according to a term sheet obtained by Reuters.

Emaar MGF Land Ltd plans to launch its deal roadshow on Jan. 18, with a listing tentatively scheduled for Feb. 27, a source familiar with the deal said.

The company is selling 11.9 percent of its enlarged share capital in an offering sponsored by Citigroup (C.N: Quote, Profile, Research), Enam Securities, Goldman Sachs (GS.N: Quote, Profile, Research), HSBC (HSBA.L: Quote, Profile, Research), JPMorgan (JPM.N: Quote, Profile, Research), Kotak Mahindra Capital and Merrill Lynch (MER.N: Quote, Profile, Research).

(Reporting by Tony Munroe, editing by Ken Wills)