Emmvee Photovoltaic IPO Details
The Emmvee Photovoltaic IPO is a book build issue with a total issue size of ₹2900 cr, comprising of fresh issue of 98795483 equity shares., and a offer for sale of 34845069 equity shares. Emmvee Photovoltaic IPO opened for subscription on Nov 11, 2025 and closed on Nov 13, 2025. Emmvee Photovoltaic IPO is set price band at ₹206 to ₹217 per share, with a lot size of 69 shares. Minimum investment for Retail investors was ₹14,973.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Nov 14, 2025, and listed on both the NSE and BSE on Nov 18, 2025.
Kfin Technologies Limited has been appointed as the registrar. IIFL Capital Services Limited, Jefferies India Private Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Manager for the issue.
Before investing in the Emmvee Photovoltaic IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 206 – 217
- Lot Size
- 69
- Issue Size
- ₹2900 Cr
- Minimum Investment
- ₹14973 (69 Shares)
- Listing Date
- 18 November 2025
Current GMP
₹3 (+1.38%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Emmvee Photovoltaic Power Limited
Emmvee Photovoltaic Power Limited – Company Overview
Incorporation: March 2007
Headquarters: Bengaluru, Karnataka, India
Emmvee Photovoltaic Power Limited is an integrated solar photovoltaic (PV) module and cell manufacturer. The company specializes in the production of high-efficiency solar products and has established a strong presence across India’s renewable energy sector.
Manufacturing Capacity (as of May 31, 2025)
- Solar PV Module Capacity: 7.80 GW
- Solar Cell Capacity: 2.94 GW
Emmvee’s product portfolio includes bifacial and mono-facial TOPCon modules and cells, as well as Mono PERC modules, catering to diverse energy generation needs and applications.
Manufacturing Infrastructure
The company operates four state-of-the-art manufacturing facilities located across two sites in Karnataka, spanning a total area of 22.44 acres.
Notably, Emmvee’s solar cell manufacturing unit at Dobbaspet, Bengaluru is among India’s largest TOPCon solar cell facilities by capacity as of May 31, 2025.
Customer Base
Emmvee serves a broad range of clients, including Independent Power Producers (IPPs), Commercial and Industrial (C&I) entities, and Engineering, Procurement, and Construction (EPC) service providers in both the 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 FY 2023–2024, the company served 525 customers across its business segments.
Human Resources
As of March 31, 2025, Emmvee Photovoltaic Power Limited employed 611 full-time employees, encompassing technical, engineering, operations, and management professionals.
Emmvee Photovoltaic IPO Promoters
- Manjunatha Donthi Venkatarathnaiah
- Shubha Manjunatha Donthi
- Suhas Donthi Manjunatha
- Sumanth Manjunatha Donthi
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
0.00%
Emmvee Photovoltaic IPO Objective
The Company Emmvee Photovoltaic IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by our Company and our Material Subsidiary
- General corporate purposes
Address / Contact Info
Emmvee Photovoltaic Power Ltd.
13/1, International Airport Road
Bettahalasur Post
Bengaluru, Karnataka, 562157
Phone: +91 80 2217 4524
Email: investorrelations@emmvee.in
Website: https://www.emmveepv.com/
IPO Snapshot
Book Running Lead Managers
- IIFL Capital Services Limited
- Jefferies India Private Limited
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Emmvee Photovoltaic IPO is a Book-building IPO with a total issue size of ₹2900 crore. The Emmvee Photovoltaic IPO price band is ₹206 to 217 per share. The Emmvee Photovoltaic IPO subscription opens on Tue, Nov 11, 2025, and closes on Thu, Nov 13, 2025. The Emmvee Photovoltaic IPO will be listed on the BSE,NSE. Kfin Technologies Limited is the registrar for the Emmvee Photovoltaic IPO .
The Emmvee Photovoltaic IPO opens on Tue, Nov 11, 2025 and closes on Thu, Nov 13, 2025
Emmvee Photovoltaic IPO Price Band is ₹206 to 217 per share.
Emmvee Photovoltaic IPO lot size is 69 shares, Retail investors need a minimum investment of ₹14973 based on the upper price band
The minimum investment for Emmvee Photovoltaic IPO is ₹14973, based on one lot of 69 shares at the upper price band of ₹217 per share.
Investors can apply for the Emmvee Photovoltaic IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Nov 13, 2025. The application amount remains blocked until the Emmvee Photovoltaic IPO allotment is finalized.
Emmvee Photovoltaic IPO issue size is ₹2900 crores.
Emmvee Photovoltaic IPO allotment date is Wed, Jul 1, 2026.
The registrar for Emmvee Photovoltaic IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website to check Emmvee Photovoltaic IPO allotment status, refund processing, and other IPO-related information.
The Emmvee Photovoltaic IPO GMP (Grey Market Premium) is ₹3 as of Thu, Nov 13, 2025. Based on the upper price band of ₹217 per share, the estimated Emmvee Photovoltaic IPO listing price is ₹220, indicating a potential listing gain of approximately 0% over the issue price.