emmvee photovoltaic power limited IPO
IPO Overview
Emmvee photovoltaic power limited IPO is a Mainboard public issue offered through a Book Building issue with a total issue size of ₹2,900.00 Cr. The IPO price band is set at ₹206 to ₹217 per share, and retail investors can apply with a minimum investment of ₹15.0K as per IPO guidelines.
The Emmvee photovoltaic power limited IPO opens on 11 Nov 2025 and closes on 13 Nov 2025. The IPO allotment is expected to be finalized on 14 Nov 2025, and the equity shares are proposed to be listed on BSE,NSE on 18 Nov 2025.
Investors can refer to the Emmvee photovoltaic power limited IPO RHP-DRHP for detailed information. The issue is managed by JM Financial Ltd.,IIFL Capital Services Ltd.,Jefferies India Pvt.Ltd.,Kotak Mahindra Capital Co.Ltd. as the book running lead manager, while Kfin Technologies Limited is the registrar to the IPO. Before investing, market participants often review IPO details, valuation, PE ratio, financials, and risk factors.
About Company
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.
Investment Objective
General corporate purposes