Emmvee Photovoltaic Power will go public on November 11 with a pricing range of ₹206–217 per unit.

Emmvee Photovoltaic Power's IPO is scheduled for November 11–13, with a price range of ₹206–₹217 per share. The ₹2,900 crore offer is mostly for business and debt repayment reasons.

The pricing range for the initial public offering (IPO) of Emmvee Photovoltaic Power is set between ₹206 and ₹217 per equity share with a face value of ₹2. Subscriptions for the Emmvee Photovoltaic Power IPO will open on Tuesday, November 11, and finish on Thursday, November 13. The Emmvee Photovoltaic Power IPO's allocation to anchor investors is set for Monday, November 10.

The cap price is 108.50 times the face value of the equity shares, while the floor price is 103 times that amount. Based on diluted EPS for fiscal 2025, the company's price to earnings ratio is 34.89 times at the upper end of the price band and 33.12 times at the lower end.

Emmvee Photovoltaic Power's initial public offering (IPO) has set aside a minimum of 75% of the shares for qualified institutional buyers (QIB), a maximum of 15% for non-institutional institutional investors (NII), and a maximum of 10% for retail investors.

Emmvee Photovoltaic Power's IPO basis for share allocation is tentatively scheduled to be finalized on Friday, November 14. The business will begin reimbursements on Monday, November 17, and the shares will be credited to the allottees' demat accounts on the same day after the refund. On Tuesday, November 18, the share price of Emmvee Photovoltaic Power is probably going to be published on the BSE and NSE.

Details about Emmvee Photovoltaic Power's IPO
The Emmvee Photovoltaic Power IPO comprises an offer for sale (OFS) of shares priced at ₹756.14 crore from promoters and a new issue of shares valued at ₹2,143.86 crore, totaling ₹2,900 crore.

The company and its primary subsidiary would use the more than ₹1,621 crore in money from the new issue for general corporate operations and to repay or prepay debts and interest.

Kfin Technologies Ltd. is the issue's registrar, and JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital Company are the book-running lead managers for the IPO.

Details of the company

The company is a well-known producer of solar PV (photovoltaic) systems, with a focus only on the manufacturing of solar modules and cells. As of May 31, 2025, it has a 7.80 GW solar PV module production capacity and a 2.94 GW solar cell production capacity.

According to a Crisil analysis, India's solar PV module and cell manufacturing capabilities grew from 21 GW and around 3.2 GW, respectively, in March 2022 to 82 GW and 23 GW, respectively, by March 2025. Government programs to reduce reliance on imports, market developments, and a growing focus on renewable energy are the main drivers of this expansion.

According to the report, the domestic module and cell production industries' nameplate capacities are expected to reach 175–185 GW and 85–95 GW, respectively, by the end of FY30.