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IPO Rating
Quality Score 
0/0
Growth Score
0/0
Valuation Score
0/0
Bidding Date
11-Nov-2025 to
13-Nov-2025
Issue Size
₹2900 Cr
Price Band
₹206 to ₹217
Allotment date
14-Nov-2025
Listing date
18-Nov-2025
Lot size
69
No. of shares
13,36,40,553
Fresh issue/OFS
₹2143.86 Cr/₹756.14 Cr
Emmvee Photovoltaic Power Ltd., founded in 1992 by D.V. Manjunatha and headquartered in Bengaluru, has evolved from a manufacturer of solar water heating systems to become a leading integrated producer of solar photovoltaic modules and solar cells for both domestic and global markets. Beginning with eco-friendly solutions for power shortages, the company’s business has expanded to include advanced solar PV modules, solar pumps, large-scale rooftop systems, commissioned utility solar projects, and bi-facial and TOPCon cell technologies. Emmvee leverages continual innovation, strong R&D partnerships, and premium manufacturing standards to deliver products tailored for EPCs, developers, corporates, and retail consumers across India, Europe, Africa, and the Middle East. The company is distinguished by its commitment to quality, transparent customer engagement, and sustained operational reliability, enabling long-term relationships with major energy stakeholders and driving energy independence with efficient, sustainable technology. Its operational philosophy centers on excellence, customer-centricity, and a vision to power a greener future by making renewable energy accessible and reliable for evolving global needs.
Read our in-depth analysis of the Emmvee Photovoltaic Power Ltd IPO Here 
Category
Status
QIBs
1.3x
NIIs
0.3x
Retail
1.1x
Others
--
Total
1x
| Name | Price Band (Rs) | Bidding Date |
|---|---|---|
| Novus Loyalty | 139 - 146 | 17-Mar-2026 to 20-Mar-2026 |
| Sai Parenteral’s | 372 - 392 | 24-Mar-2026 to 27-Mar-2026 |
| Powerica | 375 - 395 | 24-Mar-2026 to 27-Mar-2026 |
| TIPCO Engineering India | 84 - 89 | 23-Mar-2026 to 25-Mar-2026 |
The issue size of Emmvee Photovoltaic Power is ₹2,900.00 Cr.
Emmvee Photovoltaic Power falls into Energy Equipment & Services industry.
The Emmvee Photovoltaic Power IPO will be listed on both NSE and BSE.
The open and close dates for the Emmvee Photovoltaic Power are 11-Nov-2025 & 13-Nov-2025.
The price band for the Emmvee Photovoltaic Power ipo is ₹206 to ₹217
The listing date of Emmvee Photovoltaic Power IPO is 18-Nov-2025.
The purpose of this IPO is to raise fresh capital as well as enable the existing shareholders to sell their stake.
Emmvee Photovoltaic Power total subscription ratio is 1X.
Key financial of the Emmvee Photovoltaic Power are:
| Emmvee Photovoltaic Power | FY-25 | FY-24 | FY-23 |
|---|---|---|---|
| Revenue (₹ Cr) | 2335.61 | 951.94 | 618.13 |
| EBIT (₹ Cr) | 564.83 | 61.6 | 13.58 |
| Proft after Tax (₹ Cr) | 369.01 | 28.9 | 8.97 |
| Debt (₹ Cr) | 1949.69 | 1441.3 | 519.62 |
| Net Worth (₹ Cr) | 536.8 | 168.76 | 140.5 |
| RoE (%) | 68.74 | 17.12 | 6.39 |
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