Emmvee Photovoltaic Power IPO
Emmvee Photovoltaic Power IPO is listed on BSE and NSE, priced at ₹206–₹217 per share. The stock debuted at ₹217 with a flat listing performance. The IPO had a lot size of ₹69 shares and a minimum investment of ₹14,973.
Emmvee Photovoltaic Power Limited IPO
- IPO Dates
- Nov 11, 2025 – Nov 13, 2025
- Price band
- ₹206-217 per equity share
- Minimum Investment
- ₹14,973
- Issue size
- ₹2900 Cr
- Lot size
- 69
- Allotment Date
- Nov 14, 2025
- Listing
- Nov 18, 2025
- Listing At
- BSE, NSE
IPO timeline
-
Nov 11, 2025
Open Date
Completed
-
Nov 13, 2025
Close Date
Completed
-
Nov 14, 2025
Allotment Date
Completed
-
Nov 18, 2025
Listing Date
Completed
Price Summary
- Last closing
- 259.10 (19.4%)
- 52 week high
- 299.50
- 52 week low
- 171.51
- Last update
Emmvee Photovoltaic Power IPO Subscription Details
View Subscription DetailsEmmvee Photovoltaic Power IPO subscription status shows demand across QIB, NII, and retail categories, helping investors understand participation levels.
Last updated:Emmvee Photovoltaic Power IPO Essentials
Emmvee Photovoltaic Power IPO Details
Emmvee Photovoltaic Power IPO is priced at ₹206-217 per share with a total issue size of 2900 crore. The IPO has a lot size of 69 shares and is listed on BSE and NSE.
- Issue price
- ₹206-217 per equity share
- Lot size
- 69 shares
- Face value
- ₹2 Per Equity Share
- Issue size
- Total 2,900.00 Cr :
#Fresh Issue : 9,87,95,483 shares(aggregating up to ₹2,143.86 Cr) +
#OFS : 3,48,45,069 shares of ₹2(aggregating up to ₹756.14 Cr) - Total issue size
- 13,36,40,552 shares
(aggregating up to ₹2900 crore) - Fresh issue
- 9,87,95,483 shares
(aggregating up to ₹2143.86 crore) - Offer for sale (OFS)
- 3,48,45,069 shares
(aggregating up to ₹756.14 crore) - Listing at
- BSE, NSE
- List price
- 217.0(NSE)
- Listing date
- Registrar
- Kfin Technologies Ltd
- Lead manager
-
JM Financial Ltd, IIFL Capital Services Ltd, Jefferies India Pvt.Ltd, Kotak Mahindra Capital Co.Ltd.
Market Lot Size
Investors can bid for a minimum of 69 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 69 | ₹14,973 |
| Retail(max) | 13 | 897 | ₹1,94,649 |
| sHNI(min) | 14 | 966 | ₹2,09,622 |
| sHNI(max) | 66 | 4,554 | ₹9,88,218 |
| sHNI(min) | 67 | 4,623 | ₹10,03,191 |
Emmvee Photovoltaic Power IPO Reservation
Emmvee Photovoltaic Power IPO reservation details show category-wise allocation of shares. Out of the total 133640552 shares, approximately 30% are reserved for QIB, 15% for NII, 10% for retail investors, and 45% for anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 60138249 (45%) | |
| QIB Shares Offered | 40092166 (30%) | |
| NII (HNI) Shares Offered | 20046083 (15%) | |
| bHNI > ₹10L | 13364055 (10%) | 13834 |
| sHNI < ₹10L | 6682028 (5%) | 6917 |
| Retail Shares Offered | 13364055 (10%) | 193682 |
| Total Shares Offered | 133640552 (100%) |
Emmvee Photovoltaic Power IPO Analytics
Emmvee Photovoltaic Power IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
Emmvee Photovoltaic Power IPO Subscription Status
Emmvee Photovoltaic Power IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO is currently subscribed 1.02x, indicating moderate demand across investor categories.
| As on | QIB |
NII
bHNI
sHNI
|
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 1
11-11-25 05:00 PM
|
0.02 x |
0.06x
0.05x
0.09x
|
0.34 x | 0.09 x |
|
Day 2
12-11-25 05:00 PM
|
0.06 x |
0.12x
0.09x
0.18x
|
0.65 x | 0.18 x |
|
Day 3
13-11-25 05:00 PM
|
1.33 x |
0.32x
0.20x
0.54x
|
1.16 x | 1.02 x |
|
Total No. of Applications
|
bHNI | sHNI | Retail |
|---|---|---|---|
| 178617 (Approx) | 0.03x | 0.49x | 0.9x |
Emmvee Photovoltaic Power Valuations
Earnings
- EPS Pre IPO
- ₹6.22/-
- EPS Post IPO
- ₹10.84/-
- P/E Pre IPO
- 34.9
- P/E Post IPO
- 20.01
Returns
- ROE
- 104.6%
- ROCE
- 23.33%
- RoNW
- 69.44%
- PAT Margin
- 15.80%
Fundamentals
- Debt / Equity
- 3.63
- Price / Book
- 24.25
- Market Cap
- 15023.89 Cr.
Emmvee Photovoltaic Power Financials( In Crs.)
| 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|---|
| Assets | 4,347.72 | 3,913.94 | 2,189.99 | 840.79 |
| Revenue | 1,042.22 | 2,360.33 | 954.44 | 644.37 |
| Profit After Tax | 187.68 | 369.01 | 28.90 | 8.97 |
| Net Worth | 718.79 | 531.41 | 162.77 | 133.97 |
| Reserves & Surplus | 608.83 | 529.37 | 160.73 | 131.93 |
| Total Borrowing | 2,032.11 | 1,949.69 | 1,441.30 | 519.62 |
Emmvee Photovoltaic Power Company & Offer Insights
About Emmvee Photovoltaic Power
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 Promoter(s)
Manjunatha Donthi Venkatarathnaiah, Shubha Manjunatha Donthi, Suhas Donthi Manjunatha, Sumanth Manjunatha Donthi are the company's promoters of Emmvee Photovoltaic Power.
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 IPO - Anchor Investors
Emmvee Photovoltaic IPO, anchor investors pick shares worth Rs 1,305 cr.
A number of global names participated in this round, including Abu Dhabi Investment Authority, Ashoka WhiteOak, Amundi Funds, Prudential Hong Kong, Eastspring Investments, BNP Paribas Funds, Societe Generale, Morgan Stanley, Goldman Sachs, Nomura Singapore, and Citigroup.
It attracted 10 domestic mutual funds-ICICI Prudential MF, Kotak Mahindra AMC, 360 ONE, WhiteOak Capital, Franklin India, Tata MF, Aditya Birla Sun Life AMC, HDFC AMC, Edelweiss, and Motilal Oswal AMC, which subscribed to 2.99 crore equity shares, aggregating 49.81 percent of the anchor portion, through their 26 schemes.
Emmvee Photovoltaic Power IPO - Peers Comparison
| P/B Ratio | P/E Ratio | RoNW | Revenue(in Cr.) | |
|---|---|---|---|---|
| Emmvee Photovoltaic | N/A | 34.9 | 69.4% | 2335 |
| Websole Energy | N/A | 33.8 | 55.6% | 575 |
| Waaree Energies | N/A | 50.4 | 22.6% | 14444 |
| Premier Energies | N/A | 51.3 | 55.6% | 6518 |
| Vikram Solar | N/A | 70.9 | 11.2% | 3423 |
| Saatvik Green | N/A | 27.4 | 63.4% | 2158 |
Emmvee Photovoltaic Power IPO - Strengths and Risks
Emmvee Photovoltaic Power IPO strengths and risks highlight key business factors, financial position, and market sentiment that may impact investor interest.
Strengths
Risks
Contact Information
Contact Details
Emmvee Photovoltaic Power
+91 80 2217 4524
13/1, International Airport Road, Bettahalasur Post, Bengaluru, Karnataka, 562157
Registrar Contact Details
Kfin Technologies Limited
04067162222, 04079611000
Frequently Asked Questions
Click any question to reveal the answer
Emmvee Photovoltaic Power IPO is a book-built IPO worth ₹2900 crore. The price band is ₹206–₹217 per share. The IPO opens on Nov 11, 2025 and closes on Nov 13, 2025. It will be listed on BSE and NSE. Kfin Technologies Ltd is the registrar.
The price band of Emmvee Photovoltaic Power IPO is ₹206 to ₹217 per share.
The lot size of Emmvee Photovoltaic Power IPO is 69 shares.
The minimum investment for Emmvee Photovoltaic Power IPO is approximately ₹14,973 based on the upper price band .
Emmvee Photovoltaic Power IPO opens on Nov 11, 2025 and closes on Nov 13, 2025.
The allotment date of Emmvee Photovoltaic Power IPO is Nov 14, 2025.
Emmvee Photovoltaic Power IPO is expected to be listed on Nov 18, 2025, on BSE and NSE .
Emmvee Photovoltaic Power IPO listed on Nov 18, 2025. It was issued at ₹217.0(NSE) and is currently around ₹259.10 as on 14-May-2026 3:30 PM, which is approximately 19.4% versus issue price. The 52-week high is ₹299.50.
Based on listing and post-listing performance, Emmvee Photovoltaic Power IPO delivered around 19.4% over issue price. Whether it was worth applying depends on your risk profile, allocation, and holding horizon.
To buy Emmvee Photovoltaic Power IPO shares after listing, log in to your broker app (such as Zerodha, Angel One, Groww, Upstox, ICICI Direct), search the stock symbol, place a delivery/CNC order, and confirm quantity and price.
Emmvee Photovoltaic Power IPO valuation snapshot: P/E 20.01, EPS ₹10.84/-, P/B 24.25, RoNW 69.44%, and market cap 15023.89 Cr.
To apply for Emmvee Photovoltaic Power IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of Emmvee Photovoltaic Power IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for Emmvee Photovoltaic Power IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check Emmvee Photovoltaic Power IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Emmvee Photovoltaic Power IPO allotment status on IPO Ji for quick and easy access.