Last Updated on November 10, 2025 by Author
Emmvee Photovoltaic Power Ltd is set to launch its Initial Public Offering (IPO) on November 11 2025, after filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) earlier this year on July 6.
The subscription window for the IPO will be open from November 11 to November 13, with the allotment expected to be finalised on November 14 and listing planned for November 18, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
The issue is a book-building offer sized at INR 2,900 crore, comprising a fresh issue of 9.88 crore shares aggregating to INR 2,143.86 crore and an offer for sale of 3.48 crore shares aggregating to INR 756.14 crore. The price band has been set at INR 206 to INR 217 per share, with a retail lot size of 69 shares, implying a minimum investment of INR 14,214.
The company proposes to utilise the net proceeds primarily for repayment or pre-payment of certain outstanding borrowings (and accrued interest) of the company and its material subsidiary, followed by general corporate purposes.
Emmvee Photovoltaic Power Ltd, incorporated on March 21, 2007, and headquartered in Bengaluru, Karnataka, is part of the broader Emmvee Group—active in the solar industry since the early 1990s. The company designs and manufactures high-performance solar photovoltaic (PV) modules and systems, catering to rooftop and ground-mounted installations and engaging in EPC services in India and Europe.
For the year ended March 31, 2025, Emmvee’s total income stood at ₹2,360.33 crore, compared to ₹954.44 crore in FY2024. It reported a profit after tax (PAT) of ₹369.01 crore, significantly up from ₹28.90 crore in the previous fiscal year.