Emmvee Photovoltaic Power IPO : All you Need to know
Emmvee Photovoltaic Power IPO Details
The Emmvee Photovoltaic Power IPO will open on 11 Nov 2025- 13 Nov 2025. The Total issue size of IPO is ₹2,900 cr. which includes Fresh Issue and OFS (Offer For Sale)
- IPO Price Band: ₹206-₹217 Per Share
- Lot Size: 69 shares
- Minimum Investment (Retail): ₹14,214 – ₹14,973/-
- Allotment Date: 14 Nov 2025
- Listing Date: 18 Nov 2025 on NSE and BSE
| Details | Information |
| IPO Open Date | 11 Nov 2025 |
| IPO Close Date | 13 Nov 2025 |
| Price Band | ₹206-₹217 Per Share |
| Lot Size | 69 shares |
| Face Value | ₹2 per share |
| Minimum Investment | ₹14,214 – ₹14,973/- |
| Issue Size | ₹2,900 cr. |
| Allotment Date | 14 Nov 2025 |
| Listing Date | 18 Nov 2025 on NSE and BSE |
| Emmvee Photovoltaic Power IPO GMP | – |
Emmvee Photovoltaic Power IPO Issue Size
TheEmmvee Photovoltaic Powers Ltd. IPO will open for subscription on 11 November 2025 to 13 November 2025. The Company wiill planning to raise ₹2,900 cr through this public issue, which includes Fresh Issue and OFS (Offer For Sale)
- Fresh Issue: ₹2,143.86 cr (9,87,95,483 shares) funds raised here will go directly into the company for expansion, debt repayment, and working capital needs.
- Offer For Sale: ₹756.14cr. (3,48,45,069 shares ) existing shareholders will sell part of their stake, but the proceeds will not go to the company.
Emmvee Photovoltaic Power Ltd. IPO Lot Size
Investors can apply for the IPO in lots. The Emmvee Photovoltaic Power Ltd. IPO Lot Size is fixed at 69 shares per lot.
Below is the table showing lot size details for Retail Investors and **HNIs (High Net Worth Individuals):
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 69 | ₹14,973 |
| Retail (Max) | 13 | 897 | ₹1,94,649 |
| S-HNI (Min) | 14 | 966 | ₹2,09,622 |
| S-HNI (Max) | 66 | 4,554 | ₹9,88,218 |
| B-HNI (Min) | 67 | 4,623 | ₹10,03,191 |
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Emmvee Photovoltaic Power IPO Prospectus
Emmvee Photovoltaic Power Ltd. DRHP
Emmvee Photovoltaic Power IPO Reservation
The IPO shares are divided among different investor categories. Here is the Emmvee Photovoltaic Power Ltd. IPO reservation (quota) details:
| Investor Category | Reservation % |
| QIB (Qualified Institutional Buyers) | 75% of the issue |
| NII / HNI (Non-Institutional Investors) | 15% of the issue |
| Retail Investors | 10% of the issue |
| Employee |
How to Apply for Emmvee Photovoltaic Power Ltd. IPO
Applying for the Emmvee Photovoltaic Power IPO is simple. You can apply through your demat account, net banking (ASBA), or brokerage app like Zerodha, Upstox, Groww, Angel One, ICICI Direct, etc.
Step-by-Step Guide
- Login to Your Demat Account
- Open your broker app (like Zerodha, Groww, Upstox) or net banking (like HDFC, ICICI, SBI).
- Go to IPO Section
- Look for the “IPO” tab or “Current Issues” option.
- Select
- Click on Emmvee Photovoltaic Power Ltd. IPO Apply option.
- Choose Your Category & Lot Size
- Retail Investor: Minimum 1 lot = 69 shares.
- HNI (sHNI/bHNI): Higher multiples (check the Emmvee Photovoltaic Power IPO lot size table above).
- Enter Bid Price
- You can bid at the cut-off price (safest option) or enter a price within the band ₹206 – ₹217
- Confirm & Submit
- Enter your UPI ID (if using UPI) and approve the mandate on your UPI app.
- For ASBA (net banking), the amount will be a blocked in your bank account.
- IPO closes on 14 November 2025.
- Allotment date: 18 November2025
- Check status on kFin Technologies Limited
Emmvee Photovoltaic Power IPO Objective
- Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by the Company and the Material Subsidiary-1,621.29cr.
- General corporate purposes
Emmvee Photovoltaic Power Ltd. Promotors Holding
| Description | Percentage (%) |
| Promoter Holding Pre-Issue | – |
| Promoter Holding Post-Issue | – |
Key Performance Indicators
for Emmvee Photovoltaic Power IPO
| KPI | Value |
| Return on Capital Employed (ROCE) | 23.33% |
| EBITDA Margin | 30.91% |
| Price to Earning (P/E) Pre IPO | 34.9 |
| Return on Net Worth (RoNW) | 69.44% |
| PAT Margin (%) | 15.80% |
| Return On Equity (ROE) | 104.60% |
| Debt/Equity | 3.63 |
| Price to Book Value (P/BV) | 24.25 |
Emmvee Photovoltaic Power IPO Registrar and Lead Managers
Emmvee Photovoltaic Power Ltd. IPO Lead Managers.
- JM Financial Ltd
IIFL Capital Services Ltd
Jefferies India Pvt.Ltd
Kotak Mahindra Capital Co.Ltd
Emmvee Photovoltaic Power Ltd. IPO Registrar
Kfin Technologies Limited
04067162222, 04079611000
Emmvee Photovoltaic Power Ltd. Financial (in Crs)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 4,347.22 | 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 |
| EBITDA | 347.38 | 721.94 | 120.44 | 56.27 |
| NET Worth | 718.79 | 531.41 | 162.77 | 133.97 |
| Reserves and Surplus | 608.33 | 529.37 | 160.73 | 131.93 |
| Total Borrowing | 2,032.11 | 1,949.69 | 1,441.30 | 519.62 |
About Emmvee Photovoltaic Power Company
Incorporated in March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturer.Emmvee (under the parent Emmvee Group) is an Indian renewable‐energy/solar company, headquartered in Bengaluru, Karnataka.
The “Photovoltaic Power Ltd.” arm refers to their integrated solar PV (photovoltaic) module and cell manufacturing business.
They manufacture solar PV modules and solar cells (and also have a history in solar water heating systems).
As of May/June 2025, they report:
Module production capacity: ~ 7.80 GW (gigawatts)
Cell production capacity: ~ 2.94 GW
They plan expansions: e.g., adding 2.5 GW module line + 6 GW integrated cell+module capacity, targeting module capacity ~16.30 GW and cell capacity ~8.94 GW by FY 2028.
Their business areas: manufacturing of modules/cells, supplying to large solar projects (utility scale & rooftop), some EPC (engineering, procurement, construction) business.