Archive · 6 Nov 2025
Emmvee Photovoltaic Power Sets Price Band for Rs 2,900 Crore IPO
Emmvee Photovoltaic Power, a company that makes solar panels and solar cells, is planning to sell shares to the public through an IPO.
The IPO will open on November 11 and close on November 13, 2025.
They aim to raise about ₹2,900 crore.
A significant portion of the money, over ₹1,600 crore, will be used to pay back the company's loans.
Emmvee is a major player in India's solar manufacturing sector, with existing capacities for both cells and modules.
The Indian solar manufacturing industry is growing rapidly due to government support for clean energy and a desire to reduce reliance on imported solar components.
The company has set a price range for its shares between ₹206 and ₹217.
Emmvee Photovoltaic Power has set a price band of Rs 206 to Rs 217 per share for its Rs 2,900 crore IPO.
The IPO subscription will be open from November 11 to November 13, 2025, with shares expected to list on November 18, 2025.
The issue comprises a fresh issue of Rs 2,143.86 crore and an Offer for Sale (OFS) of Rs 756.14 crore.
Funds raised from the fresh issue will primarily be used for repaying loans and for general corporate purposes.
Emmvee is a leading integrated manufacturer of solar PV modules and solar cells with substantial production capacities.
- Who
- Emmvee Photovoltaic Power Ltd
- What
- Announced the price band for its Rs 2,900 crore Initial Public Offering (IPO).
- When
- IPO subscription period: November 11 - November 13, 2025. Share listing: November 18, 2025.
- Where
- India (IPO to be listed on BSE and NSE)
- Why
- To raise funds for repayment of loans and interest, and for general corporate purposes.
Emmvee Photovoltaic Power
Investors
Use of IPO Funds
Emmvee Photovoltaic Power
Proceeds from the fresh issue will primarily be used for repayment of loans and interest, and for general corporate purposes.
Investors
Investors may seek clarity on how the IPO funds will directly contribute to future business growth and expansion beyond debt reduction.
Valuation
Emmvee Photovoltaic Power
The company has set a price band of Rs 206 to Rs 217 per share. As of March 2025, Emmvee’s total borrowings were around Rs 1,950 crore.
Investors
Investors will evaluate if the price band and associated valuation metrics are attractive given the company's performance and the competitive landscape in the solar manufacturing sector.
- Company Name
- Emmvee Photovoltaic Power Ltd
- IPO Opens
- November 11, 2025
- IPO Closes
- November 13, 2025
- Anchor Investor Allocation
- November 10, 2025
- Listing Date
- November 18, 2025
- Price Band
- Rs 206 to Rs 217 per share
- Total Issue Size
- Rs 2,900 crore
- Fresh Issue
- Rs 2,143.86 crore
- Offer for Sale (OFS)
- Rs 756.14 crore
- Module Production Capacity
- 7.80 GW (as of May 2025)
- Cell Production Capacity
- 2.94 GW (as of May 2025)
- Total Borrowings
- Approx. Rs 1,950 crore (as of March 2025)
Sources
Mahamaya Lifesciences Limited Announces Opening of Initial Public Offering (IPO) on November 11, 2025
Solar Modules Maker Emmvee Photovoltaic Power Announces Price Band For ₹2,900-Crore IPO
Upcoming IPO: Emmvee Photovoltaic Power opens on November 11; price band set at ₹206-217 apiece
