Emmvee Photovoltaic Power Limited IPO
Emmvee Photovoltaic Power Limited IPO
IPO Date :
Issue Price :
Allotment Date :
Listing Date :
List Price :
Lot Size:
Subscription:
Emmvee Photovoltaic Power Limited's completed its IPO journey with a successful listing on NSE, BSE on 18-11-2025. The public offering mobilized 13,36,40,553 Shares in total capital, comprising 9,87,95,484 Shares in fresh equity and ₹756.14 Cr in Offer for Sale shares from existing stakeholders.
The offering was conducted within the price band of ₹206 to ₹217, with minimum application lots of 69 shares. Investor participation during the 11-11-2025 to 13-11-2025 subscription window determined the final allocation pattern.
The basis of allotment was announced on 14-11-2025, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Emmvee Photovoltaic IPO About Company
Founded in March 2007, Emmvee Photovoltaic Power Limited is an integrated manufacturer of solar PV modules and cells. As of May 31, 2025, the company has a production capacity of 7.80 GW for modules and 2.94 GW for solar cells. Its product range includes bifacial and mono-facial TOPCon modules and cells, as well as Mono PERC modules. Emmvee operates four manufacturing units across two locations in Karnataka, covering 22.44 acres. Its solar cell unit at Dobbaspet, Bengaluru, is among the largest TOPCon solar cell facilities in India by capacity. The company serves a wide range of customers, including independent power producers, commercial and industrial clients, and EPC service providers from both public and private sectors. Key clients include Ayana Renewable Power, Hero Rooftop Energy, Aditya Birla Renewables, KPI Green Energy, and Clean Max Enviro Energy, among others, serving a total of 525 customers in 2023. As of March 31, 2025, Emmvee employed 611 full-time staff members.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Emmvee Photovoltaic IPO Strength Factors
- Integrated and Scalable Operations: Among India’s second-largest pure-play integrated solar PV module and cell manufacturers, the company offers comprehensive, end-to-end production capabilities from cells to modules.
- Proven Manufacturing Excellence: Built a strong brand reputation through consistent product quality, reliability, and timely delivery, catering to major renewable energy developers and EPC players nationwide.
- Advanced Technological Competence: An early adopter of high-efficiency TOPCon solar cell technology, providing superior power generation, enhanced durability, and a strong competitive edge in the fast-evolving solar industry.
Emmvee Photovoltaic IPO Risk Factors
- Revenue Concentration Risk: A major portion of revenue is derived from a limited set of clients, with the top 10 customers contributing over 80–90% of total income. Loss or reduced orders from any key customer could significantly affect business performance.
- Narrow Product Portfolio Exposure: Heavy dependence on specific solar technologies such as TOPCon and Mono PERC modules makes the company vulnerable to rapid technological changes or market preference shifts.
- Operational Efficiency Constraints: Delays in achieving optimal capacity utilization or ramping up production could reduce efficiency, profitability, and overall cash flow stability.
Emmvee Photovoltaic IPO Lead Manager(s)
- Jm Financial Limited
- IIFL Securities Limited
- Jefferies India Private Limited
- Kotak Mahindra Capital Company
Emmvee Photovoltaic IPO Promoter(s)
- Manjunatha Donthi Venkatarathnaiah
- Shubha Manjunatha Donthi
- Suhas Donthi Manjunatha
- Sumanth Manjunatha Donthi
Emmvee Photovoltaic IPO FAQs
Emmvee Photovoltaic Power Limited IPO subscribed 1.02 times. The public issue subscribed 1.16 times in the retail category,1.33times in QIB, and 0.2 times in the HNI (10+) category byNovember 18, 2025 4:15:00 AM (Day 18).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Emmvee Photovoltaic IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Emmvee Photovoltaic IPO FAQs
Track all the latest updates and news of IPO.
Gaudium IVF IPO Day 3 update as subscription reaches 3.63 times with latest GMP trends
Gaudium IVF & Women Health IPO, which opened on February 20, was subscribed 3.63 times by the close of bidding on February 24, with strong participation from retail and non-institutional investors. The retail portion was subscribed 4.64 times and the NII segment 6.11 times, while QIB participation remained modest at 3%. The ₹165-crore issue, priced at ₹75–79 per share with a lot size of 189 shares, comprises a fresh issue of ₹90 crore and an OFS of ₹75 cro...Read More
Clean Max Enviro IPO opens today with latest GMP, key dates, and subscription details
Clean Max Enviro Energy Solutions IPO will open for subscription on February 23 and close on February 25, with a price band of ₹1,000–1,053 per share, valuing the issue at ₹12,325 crore at the upper end. Ahead of the public launch, the company raised ₹921 crore from anchor investors by allotting 87,46,437 shares at ₹1,053 each, with participation from major domestic and global institutional investors. The IPO comprises a fresh issue of ₹1,200 crore and an ...Read More
Gaudium IVF IPO LIVE updates as GMP signals an 11% listing pop and issue booked 8% so far
Gaudium IVF and Women Health IPO opened for subscription on February 20 and will close on February 24, aiming to raise ₹165 crore. Ahead of the launch, the company secured ₹49.5 crore from anchor investors by allotting 62,65,860 shares at ₹79 per share. The price band for the IPO has been fixed at ₹75–79 per share, valuing the company at around ₹575 crore. The issue comprises a fresh issue of 1.14 crore equity shares and an offer for sale of nearly 95 lakh...Read More
IPO GMP trends for Clean Max Enviro, Shree Ram Twistex, and PNGS Reva Diamond Jewellery in focus
The primary market is set to witness renewed momentum with four mainboard IPOs scheduled to open over the coming days. Gaudium IVF & Women Health IPO will kick off the activity on February 20, followed by Clean Max Enviro Energy Solutions and Shree Ram Twistex on February 23, while PNGS Reva Diamond Jewellery will open on February 24. Clean Max Enviro Energy Solutions has fixed its price band at ₹1,000–1,053 per share and is currently commanding a grey mar...Read More
Aye Finance IPO allotment date in spotlight with fresh GMP trends and status check process
The Aye Finance IPO allotment is set to be finalised on February 12, and investors can check their allotment status through the registrar, Kfin Technologies. The IPO saw a 97% subscription by the end of Day 3, with the QIB portion subscribed 1.50 times, retail investors 77%, and NIIs 5%. The price band was ₹122–129 per share, valuing the company at ₹3,184 crore at the upper end. The ₹1,010-crore issue comprised a fresh issue of ₹710 crore and an OFS of ₹30...Read More
Fractal Analytics IPO sees moderate demand on Day 3 with 20% subscription and GMP trends
The Fractal Analytics IPO has witnessed muted investor interest for the second consecutive day, with the issue subscribed 20% as of February 11. The IPO, which opened on February 9 and closes on February 11, is priced in the range of ₹857–900 per share with a lot size of 16 shares. Retail investors have subscribed 60% of their quota, NIIs 27%, and QIBs 2%. The company has received bids for 36,41,104 shares against 1,85,79,360 shares on offer. The ₹2,834-cr...Read More
Kasturi Metal IPO applicants can check allotment status online this way
The basis of allotment for the Kasturi Metal Composite IPO is likely to be finalised today, Friday, January 30, 2026, after the issue closed on January 29 with strong investor interest and an overall subscription of over 16 times. The ₹17.61-crore IPO was entirely a fresh issue of 28 lakh equity shares, priced in the range of ₹61–64 per share with a lot size of 2,000 shares. As per subscription data, NIIs subscribed their portion 29.06 times, retail invest...Read More
KRM Ayurveda IPO allotment goes live today with latest GMP and expected listing date
The basis of allotment for the KRM Ayurveda IPO is likely to be finalised today, Tuesday, January 27, 2026, after the issue closed on January 24 with a strong subscription of 74.27 times. Once finalised, applicants can check their allotment status on the official NSE website or through the registrar, Skyline Financial Services. The ₹77.49-crore IPO was entirely a fresh issue of 57 lakh equity shares, priced in the range of ₹128–135 per share with a lot siz...Read More
Shadowfax Technologies IPO Day 3 update as subscription reaches 60% with GMP and key dates in focus
Shadowfax Technologies IPO entered Day 3 with moderate investor response, as the issue was subscribed around 60% by the end of Day 2. The Bengaluru-based logistics company opened its IPO on January 20 and will close today, January 22, with a price band of ₹118–124 per share. Ahead of the issue, the company raised ₹856.02 crore from anchor investors. The IPO allotment is expected on January 23, refunds and demat credit are likely on January 27, and the stoc...Read More
Bharat Coking Coal IPO sees strong Day 1 demand at 2.50x subscription; GMP points to a 60% premium
Bharat Coking Coal (BCCL) IPO, the first mainboard public issue of 2026, opened for subscription today, January 9, and will remain open till January 13. The IPO is entirely an offer for sale by Coal India Limited, with a price band of ₹21–₹23 per share and a total issue size of ₹1,071 crore at the upper end. Ahead of the opening, BCCL raised ₹273.1 crore from anchor investors. The issue has been reserved 50% for QIBs, 35% for NIIs, and 15% for retail inves...Read More
Modern Diagnostic IPO ends today as final-day subscription and GMP remain in focus
The Modern Diagnostic IPO, which opened for subscription on December 31, 2025, has seen strong investor demand, with the issue subscribed over 28.77 times by the end of Day 2, driven mainly by robust participation from non-institutional investors and retail bidders. The NII portion was oversubscribed 39.61 times, while retail investors subscribed 33.85 times, and QIBs booked their segment 8.94 times, as per BSE data. Positive sentiment is also reflected in...Read More
Shyam Dhani Industries IPO sees strong Day 3 momentum as GMP indicates a 90% listing gain
Shyam Dhani Industries IPO, which opened on December 22 and closes on December 24, is witnessing strong investor demand on Day 3, with overall subscription crossing 360 times by mid-morning. The SME IPO has attracted heavy interest across categories, supported by a sharp rise in grey market premium to ₹62, indicating a potential listing premium of around 89% over the upper price band of ₹70. Ahead of the issue, the company raised ₹10.92 crore from anchor i...Read More
Gujarat Kidney IPO opens today with GMP, subscription status, price band, and key details
Gujarat Kidney & Super Speciality IPO opened for subscription on December 22 and will close on December 24, with a price band of ₹108–114 per share, aiming to raise ₹250.80 crore through a completely fresh issue of 2.20 crore shares. The company plans to use the proceeds for hospital acquisitions in Ahmedabad, equity investment in its subsidiary, a new hospital project in Vadodara, purchase of robotics equipment, debt repayment, and general corporate purpo...Read More
ICICI Prudential AMC IPO allotment LIVE update as status is released; GMP indicates a 17% listing premium
ICICI Prudential AMC IPO allotment has been finalised, and market attention has now shifted to the company’s listing scheduled for December 19. The ₹10,602.65-crore public issue received an overwhelming response, garnering bids of nearly ₹3 lakh crore and ending with an overall subscription of 39.17 times, led by strong demand from institutional investors. Priced in the range of ₹2,061 to ₹2,165 per share, the IPO was entirely an offer for sale by the prom...Read More
ICICI Prudential AMC IPO allotment date in focus with GMP and status check guide
The ICICI Prudential AMC IPO allotment is expected today after a strong response from investors, with the issue subscribed over 39 times across three days of bidding. The IPO is priced at ₹2,061–2,165 per share, entirely an offer for sale worth ₹10,602.65 crore. The grey market premium (GMP) stands at ₹304 today, indicating bullish sentiment. Applicants can check their allotment status online via the BSE website or KFintech portal using their Application N...Read More
ICICI Prudential AMC IPO sees steady demand on Day 3 with 2.5x subscription and GMP check
ICICI Prudential AMC IPO, which opened on December 12, 2025, is closing today, December 16, 2025, and has seen steady investor interest, with the issue subscribed 2.51 times by 10:15 am on Day 3, driven mainly by strong participation from non-institutional and qualified institutional investors, while the retail segment remains moderately subscribed. The IPO is priced in the range of ₹2,061–2,165 per share and is entirely an offer for sale aggregating ₹10,6...Read More
ICICI Prudential AMC IPO Day 2 update covering GMP trends, subscription status, and review
ICICI Prudential AMC IPO opened for subscription on December 12, 2025, and will close on December 16, 2025, with a price band fixed at ₹2,061 to ₹2,165 per share. The ₹10,602.65 crore issue is entirely an Offer for Sale (OFS), meaning the proceeds will go to existing shareholders and not to the company. In the grey market, ICICI Prudential AMC shares are trading at a premium of around ₹280, indicating strong listing expectations despite moderate subscripti...Read More
Corona Remedies IPO Allotment LIVE with GMP hinting at a 29% listing gain and online status tracking steps
The Corona Remedies IPO allotment has been finalised after witnessing an exceptional overall subscription of 137 times, driven by strong demand from QIBs at 278.52 times, NIIs at 208.88 times, and retail investors at 28.73 times. The ₹655.37-crore issue, priced between ₹1,008 and ₹1,062 per share, attracted heavy bidding, and investors can now check their allotment status on the BSE or Bigshare Services website. Corona Remedies, headquartered in Ahmedabad,...Read More
Corona Remedies IPO allotment scheduled for today along with status, GMP, and expected listing info
Corona Remedies IPO, valued at ₹655.37 crore and priced between ₹1,008–1,062 per share with a lot size of 120 shares, received bids for 62.65 crore shares against 45.72 lakh shares on offer. QIBs led the demand with subscriptions of 278.52 times, followed by NIIs at 208.88 times, while the retail category was subscribed 28.73 times. With the bidding now closed, investors are awaiting the allotment outcome, which is expected later today. Once finalised, all...Read More
Aequs IPO maintains strong momentum on Day 3 with 16.45x subscription and GMP suggesting a 33% gain
Aequs Ltd’s IPO entered Day 3 on a strong note after recording 11.10 times subscription by the end of Day 2. The issue, which opened on December 3 and closes on December 5, has a price band of ₹118–124 per share, giving the company a valuation of over ₹8,300 crore. The IPO GMP has risen to ₹41 today, indicating an estimated listing price of around ₹165 per share, nearly 33 percent above the upper price band. The company, known for aerospace manufacturing, ...Read More
Meesho IPO sees a sharp rise in GMP following strong Day 2 subscriptions
The Meesho IPO opened on December 3, 2025, and will remain available for subscription until December 5. The company has set a price band of ₹105–111 per share, aiming to raise ₹5,421.20 crore through a mix of fresh issue and an offer for sale. Of this, ₹4,250 crore will come from new shares and ₹1,171.20 crore through the OFS route. Market observers report strong grey market sentiments, with the Meesho IPO GMP climbing to ₹51, up from ₹42 two days ago, dri...Read More
Sudeep Pharma IPO Updates Day 2: 2.50x Booked So Far! GMP, Review & More
The Sudeep Pharma IPO, which opened on November 21 and closes on November 25, was fully subscribed on day 1 with an overall subscription of 1.42x, driven by strong retail (1.50x), NII (0.48x), and QIB (3.00x) participation. Priced between ₹563–₹593 per share, the IPO comprises a ₹95 crore fresh issue and an ₹800 crore OFS, with allocation split between QIBs (50%), NIIs (15%), and retail investors (35%). Based in Gujarat, the company is a leading producer o...Read More
Sudeep Pharma IPO Updates Day 1: GMP, Review & Other Details Inside
Sudeep Pharma IPO opened today with a price band of ₹563–₹593 per share and will remain open until 25 November 2025. The company aims to raise ₹895 crore, including ₹95 crore through fresh shares and ₹800 crore via OFS, with the issue proposed to list on BSE and NSE. The IPO saw a mild start with 0.09x subscription by 10:15 AM, while retail and NII portions were booked 0.10x and 0.16x, respectively. The grey market premium stands at ₹130, indicating strong...Read More
Excelsoft Technologies IPO Day 2 – Check GMP, Subscription Trend & Expert Review
Excelsoft Technologies IPO entered Day 2 of subscription after opening on November 19 and will close on November 21. The company has set a price band of ₹114–₹120 per share and aims to raise ₹500 crore, including ₹180 crore via fresh issue and ₹320 crore through OFS. The allotment is expected on November 22, with shares likely to be credited on November 24 and listing scheduled for November 26. The lot size is 125 shares, requiring a minimum investment of ...Read More
Excelsoft Technologies IPO Goes Live Today – Here’s the GMP, Price Band & Key Dates
The Excelsoft Technologies IPO opened on November 19, 2025, offering a fresh issue of 15 million shares worth ₹180 crore and an offer for sale of 26.7 million shares worth ₹320 crore. A day before launch, the company raised ₹150 crore through its anchor round by allotting 12.49 million shares at ₹120 to several institutional investors. In the grey market, the IPO showed a premium of around ₹15, indicating an estimated price of ₹135. The subscription window...Read More
Fujiyama Power IPO allotment today – here’s how to check status, plus GMP & listing date
The allotment for the Fujiyama Power IPO is expected to be finalised today after the issue saw a modest overall subscription of 2.14 times, driven mainly by strong QIB demand at 5.15 times, while NIIs subscribed 0.88 times and retail investors subscribed fully at 1x. The ₹828-crore IPO opened to muted interest but picked up on the final day, helping it cross full subscription. Once the allotment is declared, investors can check their status online through ...Read More
PhysicsWallah IPO allotment expected today Here’s how to check status & see latest GMP
The PhysicsWallah IPO allotment will be finalised today, November 14, and investors can check their status on the MUFG Intime India portal. The IPO, which opened on November 11 and closed on November 13, was subscribed 1.81 times on the final day, reflecting solid investor interest. Applicants can verify whether they received shares, and those who did not will get refunds starting November 17, while allotted shares will be credited to demat accounts the sa...Read More
Emmvee Photovoltaic IPO Day 3 Live: 21% Subscribed, GMP Declines – Key Dates & Review Inside
The ₹2,900 crore Emmvee Photovoltaic Power Limited IPO has entered its final day of subscription today, November 13, 2025. The Bengaluru-based solar photovoltaic module and cell manufacturer opened its IPO on November 11, with a price band of ₹206 to ₹217 per share and a lot size of 69 shares. The issue comprises a fresh share issue worth ₹2,143.86 crore and an offer for sale of ₹756.14 crore. The company plans to use the proceeds for loan repayment, subsi...Read More
Tenneco Clean Air India IPO Opens Today – Here’s What Investors Should Know
Tenneco Clean Air India’s IPO opens on November 12 and closes on November 14, with shares priced between ₹378–₹397. The ₹3,600 crore issue is entirely an offer-for-sale (OFS) by parent Tenneco Mauritius Holding, and the company will not receive any proceeds. Investors can apply for a minimum of 37 shares. The Chennai-based firm, incorporated in 2018, specializes in emission control and powertrain solutions for vehicles and raised ₹1,080 crore from 58 ancho...Read More
Emmvee Photovoltaic IPO Live Day 1: Subscription at 2% – GMP, Issue Details & Review Inside
The IPO of Emmvee Photovoltaic Power Ltd, a solar photovoltaic modules and solar cells manufacturer, opens on November 11 and closes on November 13. The company raised ₹1,305 crore from anchor investors ahead of the issue. The price band is ₹206 to ₹217 per share, with 75 percent reserved for QIBs, 15 percent for NIIs, and 10 percent for retail investors. Investors can apply for a minimum of 69 shares. Emmvee has strong manufacturing capacity of 7.80 GW in...Read More
Sometimes, we may encounter technical issues that prevent us from retrieving data. To check your allotment status , Emmvee Photovoltaic IPO Allotment Status Please Click Here.
PAN List
To access the Quick Allotment Checker, please log in to your account.
The basis of allotment for Emmvee Photovoltaic Power Limited IPO is available now.
To check Emmvee Photovoltaic Power Limited IPO allotment status, follow the steps below :
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
A category of eligible shareholders or other investors who have a reserved quota in the IPO.
If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .
