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Home All IPOs Emmvee Photovoltaic Power Ltd. IPO
Emmvee Photovoltaic Power Ltd. IPO
NSE & BSE Bookbuilding IPO Fresh Capital-cum-Offer for Sale Closed Live Chart
GMP +₹1 +0.46% Est. Listing ₹218 P&L/Lot +₹69
Issue Price
₹217
Face ₹2
GMP
+₹1
+0.46% premium
Est. Listing
₹218
GMP based
Lot Size
69
shares / lot
Min Amount
₹14,973
1 lot · 69 shares
Live Price
tap to chart
Allotment
Important Dates
6/6 completed
Open
Close
Allotment
Refund
Demat
Listing
Done
Open Date
11 Nov 2025
Tue Completed
Done
Close Date
13 Nov 2025
Thu Completed
Done
Allotment
14 Nov 2025
Fri Completed
Done
Refund
17 Nov 2025
Mon Completed
Done
Demat Credit
17 Nov 2025
Mon Completed
Done
Listing Date
18 Nov 2025
Tue Completed
UPI Deadline: 13 Nov 2025
Issue Details
Pricing & Size
Issue Price
₹217 Face ₹2
Lot Size
69 shares
Min Investment
₹14,973
Total Issue Size
13,36,40,552 shares (aggregating up to ₹2,900.00 Cr)
IPO Information
Issue Type
Bookbuilding IPO
Sale Type
Fresh Capital-cum-Offer for Sale
Listing Exchange
NSE & BSE
Script / Ticker
-
Allocation Breakdown
Market Maker
-
QIB Portion
10,02,30,415 (75.00%)
NII / HNI
2,00,46,083 (15.00%)
Retail
1,33,64,055 (10.00%)
Employee
-
Net Offer to Public
-
Shareholding Pattern
Pre-Issue Shareholding
59,35,49,550 shares
Post-Issue Shareholding
69,23,45,033 shares
Application Size
CategoryMin LotsSharesAmount
Retail (sNII) 1 69 ₹14,973
Objects of Issue
2 objectives
1
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
1,621.29 Cr
2
2 General corporate purposes
438.71 Cr
Lead Managers & Market Maker
Book Running Lead Managers
JM Financial Ltd.
IIFL Capital Services Ltd.
Jefferies India Pvt.Ltd.
Kotak Mahindra Capital Co.Ltd.
IPO Timeline
Open
11 Nov
✓ Done
Close
13 Nov
✓ Done
Allotment
14 Nov
✓ Done
Listing
18 Nov
✓ Done
Registrar Details
Kfin Technologies Ltd.
SEBI Registered Registrar & Transfer Agent
Phone
04067162222, 04079611000
Email
Emmvee.ipo@kotak.com
Company Contact
Email
investorrelations@emmvee.in
Phone
+91 80 2217 4524
Address
13/1, International Airport Road Bettahalasur Post Bengaluru, Karnataka, 562157
Grey Market Premium
LIVE
Current GMP
+₹1
+0.46% vs Issue Price
Issue Price
₹217
Est. Listing
₹218
Lot Size
69 shares
P&L / Lot
+₹69
GMP is unofficial grey market data. Does not guarantee listing price or returns.
GMP Return Calculator
Estimated Listing
GMP %
Investment (1 Lot)
Total Investment
Expected P&L
ROI
Emmvee Photovoltaic Power Ltd. LIVE
INR ·
vs Issue
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P/E
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| Price
Market Reference
IPO Issue Price
₹217
GMP
+₹1 (+0.46%)
GMP Est. Listing
₹218
Previous Close
Exchange
Data from Yahoo Finance. May be delayed 15–20 min. GMP is unofficial. Not investment advice.
Category-wise Subscription
Category Sub (×) Offered Bid For Amt (Cr)*
QIB 10,02,30,415 (75.00%) ₹217,500.00 Cr
NII / HNI (Total) 2,00,46,083 (15.00%) ₹43,500.00 Cr
Retail Investors 1,33,64,055 (10.00%) ₹29,000.00 Cr
Total ** 13,36,40,553 (100.00%) ₹2,900,000.00 Cr
* Based on ₹217.00 (upper price band)
NII / HNI Breakdown
Shares Reserved
QIB
10,02,30,415 (75.00%)
NII
2,00,46,083 (15.00%)
Retail
1,33,64,055 (10.00%)
* Shares Offered and Total Amount are indicative. ** Excluding Market Maker portion. Data sourced from exchange bidding platform.
Financial Summary
Amount in ₹ Crore
Metric30 Jun 202531 Mar 202531 Mar 2024
Revenue1042.222360.33954.44
PAT187.68369.0128.90
EBITDA347.38721.94120.44
Net Worth718.79531.41162.77
Total Assets4347.723913.942189.99
Reserves608.83529.37160.73
Borrowings2032.111949.691441.30
Key Financial Ratios
104.60%
ROE
Return on Equity
23.33%
ROCE
Return on Capital Employed
69.44%
RONW
Return on Net Worth
15.80%
PAT Margin
PAT / Revenue
30.91%
EBITDA Mgn
EBITDA / Revenue
3.63
D/E Ratio
Debt to Equity
24.25
P/BV
Price to Book Value
6.22
Pre EPS
EPS Pre-Issue
10.84
Post EPS
EPS Post-Issue
34.9
Pre P/E
P/E Pre-Issue
20.01
Post P/E
P/E Post-Issue
About Emmvee Photovoltaic Power Ltd.

Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.

As of May 31, 2025, the company has a solar PV module capacity of 7.80 GW and a solar cell capacity of 2.94 GW.

The company's product portfolio includes bifacial and mono-facial TOPCon modules and cells, and Mono PERC modules.

The company has four manufacturing units across two Karnataka locations on 22.44 acres.

As of May 31, 2025, the company's Solar cell manufacturing unit at Dobbaspet, Bengaluru, Karnataka, is one of India's largest TOPCon solar cell facilities by capacity.

The company's customers include independent power producers (“IPPs”), entities in the commercial and industrial (“C&I”) sector, and engineering, procurement, and construction (“EPC”) service providers in both public and private sectors. Key customers include 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. In 2023- 2023, we served 525 customers.

As of March 31, 2025, the company had 611 full-time employees.

Competitive Strength:

  • Second largest pure-play integrated solar PV module and cell manufacturers in India.
  • One of the largest solar PV module manufacturers in India with a track record of delivering quality products.
  • Early mover advantage in leveraging higher efficiency TOPCon cell technology.
  • Advanced manufacturing units are driving efficient and sustainable operations.
  • Valued relationships with a diverse customer base backed by a substantial order book.
  • Experienced Promoter-led senior management team.
Frequently Asked Questions
What is the issue price of Emmvee Photovoltaic Power Ltd. IPO?
The issue price of Emmvee Photovoltaic Power Ltd. IPO is ₹217 per share, face value ₹2.
What is the lot size?
Minimum lot size is 69 shares, requiring ₹14,973.
What are the IPO dates?
Opens 11 Nov 2025, closes 13 Nov 2025.
When is the listing date?
Tentative listing: 18 Nov 2025 on NSE & BSE.
What is the current GMP?
Current GMP is +₹1, estimated listing ₹218 (+0.46%). GMP is unofficial.
How to apply?
Apply via ASBA through your bank, or via UPI through any broker app.

Check Allotment Status

Emmvee Photovoltaic Power Ltd. IPO · Expected 14 Nov 2025

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Post-IPO Timeline
Allotment Date
14 Nov 2025
Refund Initiation
17 Nov 2025
Demat Credit
17 Nov 2025
Listing Date
18 Nov 2025
Live Price LIVE
Quick Facts
Closed
GMP Signal
Bullish
+₹1
+0.46%
Issue Price
₹217
Face ₹2
Lot Size
69
shares / lot
Min Amount
₹14,973
1 lot
Est. Listing
₹218
GMP +₹1
Key Dates
Open
11 Nov Done
Close
13 Nov Done
Listing
18 Nov Done
Registrar
Kfin Technologies Ltd.
A
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