Emmvee Photovoltaic Power

Emmvee Photovoltaic Power

Mainboard

₹14,973 / 69 Shares

Exp. Premium:0
Offer Date:Nov 11, 2025 - Nov 13, 2025

IPO Live Subscription Details (times)

Date:13 Nov 2025, 06:57 PM
QIBs:1.33x
NII:0.32x
Retail:1.16x
Total:1.02x

IPO Details

Emmvee Photovoltaic Power IPO is priced between ₹206-217 per equity share, with a face value of ₹2 per share. The company's equity shares will be listed on the Mainboard, and Kfin Technologies Ltd is managing the issue as the registrar.

The IPO bidding period opened on 11 Nov, 2025, and closed on 13 Nov, 2025. The allotment results will be announced on 14 Nov, 2025, with a tentative listing date set for 18 Nov, 2025.

The total issue comprises 13,36,40,552 shares, amounting to ₹2900 crore.

Emmvee Photovoltaic Power IPO Highlights

IPO DateListing DateFace ValuePrice BandLot SizeFresh IssueOffer for SaleListing At
Nov 11, 2025 - Nov 13, 202518 Nov, 2025₹2 Per Equity Share₹206-217 per equity share69 Shares Shares -BSE, NSE

Emmvee Photovoltaic Power IPO Timeline

IPO Open Date
11 Nov, 2025
IPO Close Date
13 Nov, 2025
Basis of Allotment
14 Nov, 2025
Listing Date
18 Nov, 2025

Issue Price

₹206-217 per equity share

Face Value

₹2 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Ltd

Market Lot

Retail: 69 Shares (₹14,973/-)Retail: 897 Shares (₹1,94,649/-)
S-HNI: 966 Shares (₹2,09,622/-)
S-HNI: 4,554 Shares (₹9,88,218/-)
B-HNI: 4,623 Shares (₹10,03,191/-)

Lead Manager

JM Financial LtdIIFL Capital Services LtdJefferies India Pvt.LtdKotak Mahindra Capital Co.Ltd.

Issue Size

13,36,40,552 shares(aggregating up to ₹2900 crore)

Retail Portion

Subscription

IPO Docs

No IPO Docs available

Emmvee Photovoltaic Power IPO Financial Information

Period EndedAssetsRevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
30-Jun-254347.721042.22187.68718.79608.832032.11
31-Mar-253913.942360.33369.01531.41529.371949.69
31-Mar-242189.99954.4428.90162.77160.731441.30
31-Mar-23840.79644.378.97133.97131.93519.62

In Cr.

Emmvee Photovoltaic Power IPO Valuations

EPS PRE IPO

₹6.22/-

EPS POST IPO

₹10.84/-

PE PRE IPO

34.9

PE POST IPO

20.01

ROE

104.6%

ROCE

23.33%

DEBT EQUITY

3.63

RONW

69.44%

PAT MARGIN

15.80%

PRICE TO BOOK VALUE

24.25

About Company

Incorporated on March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturing company.

The company has, as of May 31, 2025, a solar PV module capacity of 7.80 GW and a solar cell capacity of 2.94 GW. The product range of the company consists of bifacial and mono-facial TOPCon modules and cells, and Mono PERC modules.



The company operates four production facilities in two locations in Karnataka spanning 22.44 acres.As of May 31, 2025, the Solar cell manufacturing unit of the company at Dobbaspet, Bengaluru, Karnataka is India's largest TOPCon solar cell facility by capacity.

The customers of the company are independent power producers (IPPs), organizations in the commercial and industrial (C&I) sector, and engineering, procurement, and construction (EPC) service providers in public and private sectors. The key customers are Ayana Renewable Power, Clean Max Enviro Energy, Hero Rooftop Energy, Prozeal Green Energy, KPI Green Energy, Aditya Birla Renewables, Blupine Energy, Lineage Power, BN Peak Power-I, KMV Projects, Powertrack Packaging, SILRES Energy, Kintch Synergy, Zodiac Energy, E Ramamurthy Minerals and Metals, InSolare Energy, Universal Transformers, and Mars Energy Group. During 2023- 2023, we had served 525 customers.

As of March 31, 2025, the company employed 611 full-time people.

Read More

Emmvee Photovoltaic Power IPO Subscription Details

As onQIBNII
bNII  sNII
RetailTotal
Shares Offered / Reserved4,00,92,166
2,00,46,083

1,33,64,055    66,82,028
1,33,64,0557,35,02,304
Day 111-11-25 05:00 PM0.02 x
0.06

0.05 x   0.09 x
0.34 x0.09 x
Day 212-11-25 05:00 PM0.06 x
0.12

0.09 x   0.18 x
0.65 x0.18 x
Day 313-11-25 05:00 PM1.33 x
0.32

0.20 x   0.54 x
1.16 x1.02 x
Total No. of Applications:1,78,616
Retail Subscription:

Retail:0.90x

BHNI:0.03x

SHNI:0.49x

Emmvee Photovoltaic Power IPO - Issue Objectives

  1. Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by the Company and the Material Subsidiary – ₹1621.29 Cr
  2. General corporate purposes
Company Contact Details

Emmvee Photovoltaic Power

13/1, International Airport Road, Bettahalasur Post, Bengaluru, Karnataka, 562157

Phone: +91 80 2217 4524

Email: investorrelations@emmvee.in

Website: https://www.emmveepv.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: emmvee.ipo@kfintech.com

Website: https://ipostatus.kfintech.com/