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Emmvee Photovoltaic Power Ltd.

Emmvee Photovoltaic Power Ltd.

NSE & BSE · Mainboard IPO
Listed NSE & BSE Mainboard Live Chart
Issue Price
₹217
₹217
GMP (Grey Market)
+₹1
+0.46%
Est. Listing Price
₹218
Based on GMP
Min. Investment
₹14,973
1 lot × 69 shares
Subscribed
1.00x
Over-subscribed
IPO Details
Open Date
11 Nov 2025
Close Date
13 Nov 2025
Allotment
14 Nov 2025
Listing Date
18 Dec 2025
Exchange
NSE & BSE
Price Band
₹217
Listing Price
See chart
Allotment Status
Price Band
₹217
Per share
Face Value
₹2 per share
 
Lot Size
69 Shares
per lot
Issue Size
13,36,40,552 shares (aggregating up to ₹2,900.00 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹14,973
1 lot
Pre-IPO Holding
59,35,49,550 shares
Promoters
Post-IPO Holding
69,23,45,033 shares
Promoters
P/E (Pre)
34.9x
 
P/E (Post)
20.01x
 
EPS (Pre)
₹6.22
 
EPS (Post)
₹10.84
 
UPI Deadline
2025-11-13
Mandate
GMP
+₹1
+0.46% est.
Anchor AllotmentMon, 10 Nov 2025
Basis of AllotmentFri, 14 Nov 2025
Refund InitiationMon, 17 Nov 2025
Demat CreditMon, 17 Nov 2025
Listing DayThu, 18 Dec 2025
UPI Mandate Deadline2025-11-13
Sale TypeFresh Capital-cum-Offer for Sale
Fresh Issue Shares9,87,95,483 shares (aggregating up to ₹2,143.86 Cr)
Offer for Sale3,48,45,069 shares of ₹2 (aggregating up to ₹756.14 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Emmvee Photovoltaic Power Ltd. IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 13 Nov 2025.
QIB
1.00x
Over
NII/HNI
1.00x
Over
Retail
1.00x
Over
Total
1.00x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
QIB
Over 1.00x
NII / HNI
Over 1.00x
Retail
Over 1.00x
Total 1.00x
133,640,553
100% ₹2,900.00
IPO Shares Offered
Emmvee Photovoltaic Power Ltd. IPO total issue size: ₹2,900.00 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Total 133,640,553 ₹2,900.00
100.00%
* Based on upper price band ₹217 per share
Lot Size & Investment
Lot Size
69
Shares per Lot
Issue Price
₹217.00
Upper Band
Min Investment
₹14,973
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)2138₹29,946
Retail (Max — 13 Lots)13897₹194,649
S-HNI (Min — 14 Lots)14966₹209,622
B-HNI (Min — 68 Lots)684,692₹1,018,164
* Issue Price ₹217 × Lot Size 69 shares
IPO Schedule
Anchor
10 Nov 2025
✓ Done
IPO Open
11 Nov 2025
✓ Done
IPO Close
13 Nov 2025
✓ Done
Allotment
14 Nov 2025
✓ Done
Refunds
17 Nov 2025
✓ Done
Demat Credit
17 Nov 2025
✓ Done
Listing Day
18 Dec 2025
✓ Done
Emmvee Photovoltaic Power Ltd. — Live Price LIVE
₹217.00
INR · BSE
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Issue ₹217.00 GMP: +₹1 Live Price
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.
Objects of the Issue
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
2
2 General corporate purposes
Emmvee Photovoltaic Power Ltd. Financials (Amount in ₹ Crore)
Revenue from Operations
₹954.4
31 Mar 2024
₹2,360.3
31 Mar 2025
₹1,042.2
30 Jun 2025
Profit After Tax (PAT)
₹28.9
31 Mar 2024
₹369.0
31 Mar 2025
₹187.7
30 Jun 2025
Particulars30 Jun 202531 Mar 202531 Mar 2024
Revenue from Operations 1042.22 2360.33 954.44
EBITDA 347.38 721.94 120.44
Profit After Tax (PAT) 187.68 369.01 28.90
Net Worth 718.79 531.41 162.77
Total Assets 4347.72 3913.94 2189.99
Reserves & Surplus 608.83 529.37 160.73
Borrowings 2032.11 1949.69 1441.30
EBITDA Margin (%) 30.91
PAT Margin (%) 15.80
P/BV Ratio
24.25
RoE
104.60
RoCE
23.33
RoNW
69.44
PAT Margin
15.80
EBITDA Margin
30.91
Debt/Equity
3.63
Issue Structure & Shareholding
Total Shares Offered13,36,40,553 (100.00%)
Net Offer to PublicN/A
Reserved for Market MakerN/A
Pre-Issue Promoter Holding59,35,49,550 shares
Post-Issue Promoter Holding69,23,45,033 shares
P/BV Ratio24.25
RoE104.60
RoCE23.33
Debt / Equity3.63
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
JM Financial Ltd.
IIFL Capital Services Ltd.
Jefferies India Pvt.Ltd.
Kotak Mahindra Capital Co.Ltd.
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Emmvee Photovoltaic Power Ltd. IPO subscribed?

Emmvee Photovoltaic Power Ltd. IPO is subscribed 1.00 times by Nov 13, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.00x
Retail Individual1.00x
Total Subscription1.00x
What is Emmvee Photovoltaic Power Ltd. IPO retail subscription status?

The Emmvee Photovoltaic Power Ltd. IPO retail category is subscribed 1.00 times as of 13 Nov 2025. The retail portion is oversubscribed.

How to subscribe Emmvee Photovoltaic Power Ltd. IPO?

Subscribe via your broker app using ASBA or UPI. Opens 11 Nov 2025 and closes 13 Nov 2025. Min investment: ₹14,973 (1 lot = 69 shares). UPI mandate: 2025-11-13.

How many times Emmvee Photovoltaic Power Ltd. IPO subscribed?

The Emmvee Photovoltaic Power Ltd. IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Emmvee Photovoltaic Power Ltd. IPO allotment?

Check allotment on the registrar website (Kfin Technologies Ltd.) at https://ipostatus.kfintech.com/. Enter your PAN, application number or DP/Client ID. Allotment date: 14 Nov 2025. Refunds: on 17 Nov 2025.

When Emmvee Photovoltaic Power Ltd. IPO will be listed?

The Emmvee Photovoltaic Power Ltd. IPO listing date is 18 Dec 2025, Thursday. Listed on: NSE & BSE. Issue price: ₹217. Estimated listing: ₹218. GMP: +₹1.

When Emmvee Photovoltaic Power Ltd. IPO close?

The Emmvee Photovoltaic Power Ltd. IPO closes on 13 Nov 2025, Thursday. UPI mandate: 2025-11-13. Allotment: 14 Nov 2025. Listing: 18 Dec 2025.