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  1. Emmvee Photovoltaic IPO Day 1: Check live subscription status and 10 key points to consider

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Emmvee Photovoltaic IPO Day 1: Check live subscription status and 10 key points to consider

Kamal Joshi

3 min read | Updated on November 11, 2025, 15:57 IST

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SUMMARY

Emmvee Photovoltaic IPO: The ₹2,900 crore book-building issue is a mix of fresh issuance of ₹2,143.86 crore and an offer for sale of ₹756.14 crore.

Emmvee Photovoltaic Power is the leading pure-play integrated solar PV (photovoltaic system) module and solar cell manufacturing company. | Image: LinkedIn/Emmvee Group

Emmvee Photovoltaic Power is the leading pure-play integrated solar PV (photovoltaic system) module and solar cell manufacturing company. | Image: LinkedIn/Emmvee Group

Emmvee Photovoltaic IPO: Solar photovoltaic module and solar cell maker Emmvee Photovoltaic Power's initial public offering opened for subscription on Tuesday, November 11. The company's shares will hit the secondary market on November 18.

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It got bids for 59,90,649 shares compared to 7,74,27,183 shares on offer, translating to 8% subscription, as per NSE data until 3:57 pm.

CategorySubscription Status
Qualified Institutional Buyers (QIBs)2%
Non-Institutional Investors4%
Retail Investors30%
Total8%

Emmvee Photovoltaic IPO: 10 key points to know

  • Emmvee Photovoltaic IPO subscription period: The initial share sale is live from Tuesday, November 11 to Thursday, November 13, 2025.
  • Anchor investor allocation: On Monday, the company raised ₹1,305 crore from anchor investors, including Abu Dhabi Investment Authority, Amundi Funds, Ashoka WhiteOak, Eastspring Investments, Prudential Hong Kong, BNP Paribas Funds, ICICI Prudential MF, Tata MF, 360 ONE, WhiteOak Capital, Kotak Mahindra AMC, Franklin India, Aditya Birla Sun Life AMC and others.
  • IPO offer structure: The ₹2,900 crore book-building issue is a mix of fresh issuance of ₹2,143.86 crore and an offer for sale of ₹756.14 crore.
  • Emmvee Photovoltaic IPO price band: The price range has been fixed at ₹206 to ₹217 per equity share.
  • Emmvee Photovoltaic IPO lot size: Investors can apply for a minimum of 69 shares.
  • Reservation: The company has reserved 75% of the net offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.
  • Objectives: Under the OFS, promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi are offloading their shares. The fresh issue proceeds will be utilised for repayment of debt and general corporate purposes.
  • Book-running lead manager and registrar: JM Financial, Kotak Mahindra Capital Company, Jefferies India and IIFL Capital Services are the issue's merchant bankers, while KFin Technologies is the registrar.
  • Emmvee Photovoltaic Power IPO allotment date: The basis of allotment is expected to be finalised on November 14.
  • Listing date: Shares of Emmvee Photovoltaic Power IPO will hit BSE and NSE on November 18.

Emmvee Photovoltaic IPO GMP

According to media reports and investorgain.com, unlisted shares of Emmvee Photovoltaic are trading at ₹237, reflecting a grey market premium of 9.22%, or ₹20, over the upper price band of ₹217.

Disclaimer: Grey Market Premium (GMP) is not regulated or recommended by the stock exchanges or SEBI. Upstox does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.

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