Emmvee Photovoltaic share price: Stock lists at par with IPO issue price on NSE, BSE

The stock listed at par with the IPO issue price of ₹217 per unit on the NSE and the BSE.

At 12:44 pm, the scrip was trading 2.53% higher at ₹222.50 on the NSE.

Emmvee Photovoltaic share price: Here's how much investors made

The ₹2,900 crore IPO was a fresh issue of shares amounting to ₹2,143.86 crore and an offer for sale of shares aggregating to ₹756.14 crore by promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi. It had a price band of ₹206 to ₹217 per share.

Of the fresh issue proceeds, ₹1,621.29 crore will be utilised for repayment or prepayment of loans taken by the company and its subsidiary, and the remainder of funds for corporate general purposes.

Emmvee Photovoltaic Power IPO received 97% subscription. It got bids for 7,50,44,538 shares compared to 7,74,27,183 shares on offer, as per the NSE data.

Before the IPO, the company collected ₹1,305 crore from anchor investors such as Abu Dhabi Investment Authority, Ashoka WhiteOak, Amundi Funds, Eastspring Investments, BNP Paribas Funds, Prudential Hong Kong, ICICI Prudential MF, Tata MF, 360 ONE, Kotak Mahindra AMC, Franklin India, Aditya Birla Sun Life AMC, WhiteOak Capital and others.

Emmvee Photovoltaic Power Ltd is one of the leading pure-play integrated solar PV (photovoltaic system) module and solar cell manufacturing companies. It has a solar PV module production capacity of 7.8 gigawatts (GW) and a solar cell production capacity of 2.94 GW as of May 31, 2025.

Kotak Mahindra Capital Company, JM Financial, Jefferies India and IIFL Capital Services were the issue's merchant bankers, while KFin Technologies was the registrar.