Archive · 10 Nov 2025
Emmvee Photovoltaic IPO Opens Tomorrow: Details on ₹2,900 Crore Share Sale
Emmvee Photovoltaic, a company that makes solar panels and cells, is getting ready to sell shares of its business to the public through an IPO.
This means people can buy small pieces of the company.
The IPO will start on November 11 and end on November 13.
The price for each share will be between ₹206 and ₹217.
The company plans to raise a total of ₹2,900 crore from this sale.
A good portion of this money will be used to pay back loans the company has taken.
Some shares are also being sold by the company's owners, who are expected to make a lot of money from this.
There's also something called a Grey Market Premium, which is like an early signal of how much people are willing to pay for the shares, currently at ₹20 above the selling price.
India's solar energy production capacity is growing a lot, and Emmvee Photovoltaic is a major player in this market.
Emmvee Photovoltaic's ₹2,900 crore IPO opens on November 11 and closes on November 13.
The IPO consists of a fresh issue of ₹2,143.86 crore and an offer for sale of 3.48 crore shares.
The price band for the IPO is set at ₹206 to ₹217 per share, with a lot size of 69 shares.
Proceeds will primarily be used for loan repayment and general corporate purposes.
The Grey Market Premium (GMP) is ₹20, indicating a potential listing at a 9% premium.
Promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi are selling shares.
Qualified Institutional Buyers (QIBs) get at least 75% reservation, Non-Institutional Investors (NIIs) up to 15%, and Retail Investors up to 10%.
Emmvee Photovoltaic is India's second-largest pure-play integrated solar PV module and cell manufacturing company as of FY25.
India's solar PV manufacturing capacity has significantly increased, driven by government policies and renewable energy commitment.
JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital Company are the book-running lead managers.
- Who
- Emmvee Photovoltaic
- What
- Is launching its Initial Public Offering (IPO) with a book-built issue
- When
- Opening on November 11 and closing on November 13, with listing expected on November 18.
- Where
- Indian primary market (Dalal Street)
- Why
- To raise capital, with funds intended for repayment of loans and general corporate purposes.
Promoter's Perspective
Market Analyst Perspective
Potential Listing Gains
Promoter's Perspective
Promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi are projected to achieve a 103,233% return on their investment.
Market Analyst Perspective
The current Grey Market Premium (GMP) of ₹20 suggests a potential listing at a 9% premium, around ₹237 per share.
- IPO Size
- ₹2,900 crore
- Fresh Issue Size
- ₹2,143.86 crore
- Offer for Sale Size
- 3.48 crore shares
- Price Band
- ₹206 to ₹217 per share
- Lot Size
- 69 shares
- IPO Dates
- November 11 to November 13
- Allotment Date
- November 14
- Listing Date
- November 18
- Grey Market Premium (GMP)
- ₹20
