India’s dream run of initial public offerings, which has made it the world’s biggest market for share issues this year, has ground to a halt with Emaar MGF Land, a property developer, forced to extend its offer period on Wednesday owing to lack of demand.

The company, which is trying to stage India’s second biggest property listing, was forced to cut its price range for the second time to Rs530 to Rs630 a share from an already-reduced range of Rs540 to Rs630.