Emmvee Photovoltaic Power

IPO Details
Bidding Date Nov 11, 2025	IPO Price Range ₹206 to ₹217 per share	IPO Size ₹2900 Cr
Listing Exchange BSE, NSE	Listing Date Nov 18, 2025	Lot Size 69 Shares

Minimum Investment
₹14,973/69shares

IPO Timeline

Open DateNov 11, 2025

Close DateNov 13, 2025

Allotment FinalisationNov 14, 2025

Demat TransferNov 17, 2025

Refund InitiationNov 17, 2025

ListingNov 18, 2025

About Emmvee Photovoltaic Power

Emmvee Photovoltaic Power Company is a renewable energy enterprise that focuses on the production of solar modules and supplying solar power services. The company was founded in 1992 and has experience in photovoltaic system design and installation (residential, commercial, and utility-scale). The company manufactures high-efficiency solar panels, having very good market penetration in both the domestic market and the export market. The main focus in Emmvee is quality, innovation, and sustainability with the support of modern manufacturing plants and R&D. With a push worldwide for clean energy, Emmvee shall be seeking the demand in solar energy solutions, the proceeds of whose IPO shall be utilized for capacity expansion, technology upgradation, and new market access. On the back of strong manufacturing and EPC capabilities in solar, Emmvee now plans to leverage and build further on its position in the ongoing realignment of renewable energy in India.

Emmvee Photovoltaic Power Subscription Status

Date	QIB	NII	Retail	Total
TBA	0	0	0	0
TBA	0	0	0	0

Emmvee Photovoltaic Power Financial Status

Particulars (in Rs. Crores)	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	3,913.94	2,189.99	840.79
Total Income	2,360.33	954.44	644.37
Profit After Tax	369.01	28.90	8.97
EBITDA	721.94	120.44	56.27
Net Worth	531.41	162.77	133.97
Reserves and Surplus	529.37	160.73	131.93
Total Borrowing	1,949.69	1,441.30	519.62

Emmvee Photovoltaic Power SWOT Analysis

Strengths

The solar business, over time, increases credibility and brand trust.
Installed with production facilities for efficient solar modules.
A varied portfolio of residential, commercial, and utility-scale projects also ensures consistent revenues.
Export of products to foreign markets generates additional opportunities for growth beyond India.
Capacity expansion and technology upgrades are likely to be funded by IPO proceeds.

Weaknesses

The global solar module prices put pressure on profitability, occupying a difficult space to manifest consistent operating margins.
Being an intensely capital-intensive operation, it requires continuous financing, whereby incarceration comes in the form of debt and limitations on flexibility for further investments.
Policy changes in the renewable energy subsidy directly inspired growth outlook, creating ambiguity in long-term planning.
A rise and fall in raw material prices, especially silicon, is largely responsible for refashioning the entire equation between the overall profitability and cost management.