The Emmvee Photovoltaic IPO opened for subscription today, and the market was already buzzing before the bell. The company, known for its presence in solar PV modules and solar cell manufacturing, steps into the public market with a sizeable offering that has caught investors’ attention for its scale, structure, and anchor participation.
The flow of events since yesterday set the tone. A day before the launch, the company locked in a significant anchor book, pulling in funds and signalling strong institutional participation. With core numbers set and investor categories clearly defined, the IPO begins its three-day run.
Market Performance & Subscription Opening
Tuesday marked Day 1 of the Emmvee Photovoltaic IPO subscription status, opening to all investor categories. The bidding window will remain active from November 11 to November 13.
Before the issue opened, the company secured ₹1,305 crore from anchor investors on November 10. This early inflow created the initial market momentum and set the stage for the public offer.
The Emmvee Photovoltaic IPO price band is fixed between ₹206 and ₹217 per share, with the lot size beginning at 69 shares.
Main News: IPO Structure & Investor Allocation
The IPO structure is divided across investor segments, keeping the regulatory and demand-side requirements in balance. The allocation strategy also gives a clear view of how the company wants to position itself across institutional and retail participation.
Key allocation breakup:
- 75% of the total issue for Qualified Institutional Buyers (QIBs)
- 15% reserved for Non-Institutional Investors (NIIs)
- 10% set aside for the Emmvee Photovoltaic IPO retail quota
The offering consists of both fresh issuance and an offer for sale.
Total Issue Size: ₹2,900 crore
- Fresh Issue: ₹2,143.86 crore
- Offer for Sale (OFS): ₹756.14 crore
The company plans to use more than ₹1,621 crore from the fresh issue for loan repayment or prepayment for itself and its key subsidiary. The rest is allocated toward general corporate purposes.
Company Details: What Emmvee Photovoltaic Does
Emmvee Photovoltaic Power has cemented its name in the solar manufacturing segment, focusing on solar PV modules and solar cells. The company has built years of expertise in sustainable energy components, becoming a known manufacturer within the sector.
As of May 31, 2025, the company has:
- 7.80 GW of solar PV module production capacity
- 2.94 GW of solar cell production capacity
These numbers reflect Emmvee’s scale in India’s renewable energy manufacturing ecosystem. The capacity also provides context for the company's expansion needs and its decision to tap the capital market.
Emmvee Photovoltaic IPO Anchor Details
The pre-IPO anchor round saw participation from 55 anchor investors, contributing ₹1,305 crore on November 10.
This anchor absorption provided the early base demand for the issue and supported the opening day sentiment.
Summary of the Article
The Emmvee Photovoltaic IPO opened today after raising ₹1,305 crore from anchor investors. The issue is priced at ₹206–₹217 per share, and the minimum bid is set at 69 shares.A total of ₹2,900 crore will be raised through the combination of fresh issue and OFS. The retail quota stands at 10%, while QIBs and NIIs hold 75% and 15% respectively. The company, with a strong presence in solar module and cell manufacturing, brings production capacities of 7.80 GW and 2.94 GW to the table. Use of proceeds is largely focused on loan repayment and general corporate needs.
Easy & quick
Leave A Comment?