When the Emmvee Photovoltaic IPO opened its doors on November 11, it stepped into the market with the kind of quiet confidence you usually see in a company that knows its place in a fast-growing sector. The bidding window remains open till November 13, and the early response has already set the tone for how the issue is shaping up.
On the first day itself, the IPO crossed the 9% subscription mark. And as the second day rolled in, the pace picked up further, drawing more investor interest across categories.
Market Performance: Subscription Momentum on Day 2
By 11:30 AM on Day 2, the Emmvee Photovoltaic IPO subscription status crossed 12%, signaling steady participation as the bidding cycle progresses.
The category-wise breakup shows how demand is building:
- Retail Investors: 0.46 times
- Non-Institutional Investors (NIIs): 0.08 times
- Qualified Institutional Buyers (QIBs): 0.02 times
- Total Applications Received: 91,54,368
- Shares Offered: 7,74,27,183
The numbers highlight a gradual rise in activity, especially among retail bidders, who often tend to pace their applications through the final day.
Main News: IPO Timeline and Price Band
The Emmvee Photovoltaic IPO date runs from November 11 to November 13, giving investors a three-day window to participate. The company has set the Emmvee Photovoltaic IPO price band at:
The Emmvee Photovoltaic IPO price band has been fixed at ₹206–₹217 per share. At the top end of this range, the company plans to raise ₹2,900 crore, valuing the business at over ₹15,000 crore.
The IPO structure brings together both a fresh issue and an offer for sale, keeping the issue aligned with the company's immediate operational priorities.
Emmvee Photovoltaic IPO Details: Issue Structure and Fund Allocation
The Emmvee Photovoltaic IPO details outline a balanced mix of new capital infusion and promoter dilution. Here’s the financial breakdown:
- Fresh Issue: ₹2,143.86 crore
- Offer for Sale (OFS): ₹756.14 crore
- Total Issue Size: ₹2,900 crore
From the fresh issue proceeds, the utilisation plan is clearly laid out:
- ₹1,621 crore allocated for loan repayment or prepayment (including interest) for the company and its key subsidiary
- Remaining funds marked for general corporate purposes
The company’s borrowings as of March 2025 stood at ₹1,950 crore, as mentioned in its draft filings.
Company Details: Capacity and Business Footprint
Emmvee Photovoltaic operates in a sector that has been expanding rapidly, and the company comes with a significant production base already in place.
As of May 31, 2025, the company has:
- 7.8 GW installed capacity for solar PV modules
- 2.94 GW installed capacity for solar cells
This scale allows the company to play a meaningful role in India’s renewable energy ecosystem, especially as demand for solar infrastructure accelerates across large projects and residential segments.
The company is positioned as an integrated player, which gives the business more control across the manufacturing chain — from cells to modules.
Listing Date
Emmvee Photovoltaic Power is scheduled to list on the stock exchanges on November 18, marking the final leg of the IPO process.
Summary: What the Numbers Tell Us
The Emmvee Photovoltaic IPO continues to attract investor attention as it moves through Day 2. With subscription levels crossing 12%, along with clear issue details, structured fund utilisation, and strong manufacturing capacity, the IPO stays anchored around factual performance indicators.
Key takeaways include:
- IPO open from Nov 11–13
- Subscription status at 12% as of Day 2
- Price band at ₹206–₹217
- Total fundraising target: ₹2,900 crore
- Fresh issue: ₹2,143.86 crore
- OFS: ₹756.14 crore
- Listing date: November 18
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