
Emmvee Photovoltaic Power
Mainboard₹14,973 / 69 Shares
IPO Live Subscription Details (times)
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 Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
|---|---|---|---|---|---|---|---|
| Nov 11, 2025 - Nov 13, 2025 | 18 Nov, 2025 | ₹2 Per Equity Share | ₹206-217 per equity share | 69 Shares | Shares | - | BSE, NSE |
Emmvee Photovoltaic Power IPO Timeline
Issue Price
₹206-217 per equity shareFace Value
₹2 Per Equity ShareListing at Group
BSE, NSERegistrar
Kfin Technologies LtdMarket 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 availableEmmvee Photovoltaic Power IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 30-Jun-25 | 4347.72 | 1042.22 | 187.68 | 718.79 | 608.83 | 2032.11 |
| 31-Mar-25 | 3913.94 | 2360.33 | 369.01 | 531.41 | 529.37 | 1949.69 |
| 31-Mar-24 | 2189.99 | 954.44 | 28.90 | 162.77 | 160.73 | 1441.30 |
| 31-Mar-23 | 840.79 | 644.37 | 8.97 | 133.97 | 131.93 | 519.62 |
In Cr.
Emmvee Photovoltaic Power IPO Documents
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.
Emmvee Photovoltaic Power IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 4,00,92,166 | 2,00,46,083 1,33,64,055 66,82,028 | 1,33,64,055 | 7,35,02,304 |
| Day 111-11-25 05:00 PM | 0.02 x | 0.06 0.05 x 0.09 x | 0.34 x | 0.09 x |
| Day 212-11-25 05:00 PM | 0.06 x | 0.12 0.09 x 0.18 x | 0.65 x | 0.18 x |
| Day 313-11-25 05:00 PM | 1.33 x | 0.32 0.20 x 0.54 x | 1.16 x | 1.02 x |
Retail:0.90x
BHNI:0.03x
SHNI:0.49x
Emmvee Photovoltaic Power IPO - Issue Objectives
- 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
- General corporate purposes
Emmvee Photovoltaic Power
13/1, International Airport Road, Bettahalasur Post, Bengaluru, Karnataka, 562157Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: emmvee.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/