[Fresh Issue ₹2,144 Cr + OFS ₹756 Cr]

Emmvee photovoltaic ipo price is ₹206 – ₹217 per share

Emmvee Photovoltaic: History

The Company was originally incorporated as Emmvee Toughened Glass and Photovoltaics Private Limited, a private limited company under the Companies Act, 1956, on March 21, 2007.

The Company was then converted into a public limited company under a special resolution passed by the shareholders on April 29, 2025, and its name was changed to Emmvee Photovoltaic Power Limited under a fresh certificate of incorporation issued by the RoC on May 07, 2025.

LAST ARTICLE – PhysicsWallah ipo review

Emmvee Photovoltaic: Business

Emmvee Photovoltaic Power Ltd. is the 2nd largest integrated solar photovoltaic module (PV module) and solar cell manufacturing company, and one of the largest solar photovoltaic module manufacturers in India (in terms of production capacity) as of March 31, 2025.

According to the Crisil Report, Emmvee is one of the early companies in India to adopt the higher efficiency Tunnel Oxide Passivated Contact (TOPCon) technology for producing solar cells as of March 2025.

The Company’s product portfolio comprises –

• Bifacial and mono-facial formats of TOPCon modules and cells,
• Bifacial and mono-facial formats of mono-passivated emitter, and
• Rear Contact (Mono PERC) modules.

As of May 31, 2025, the company has a solar cell production capacity of 2.94 GW and a solar PV module production capacity of 7.80 GW, with a track record of more than 18 years.

According to the Crisil Report, Emmvee was the only Indian company among four international players to have passed all seven tests through a single product type under the Kiwa PVEL product qualification program in FY 2024.

Market Share

As of May 2025, Emmvee holds a 5.1 percent share of ALMM-enlisted module capacity and serves major clients like Aditya Birla Renewables, Clean Max Energy, and Ayana Renewable Power.

Manufacturing Units

As of the date of this Draft Red Herring Prospectus (DRHP), Emmvee operates four manufacturing units across two locations in Karnataka, India, spread across a total land area of 22.44 acres.

ALSO READ – pinelabs ipo review

Strategies Ahead

• Expansion of the module and solar cell manufacturing capacity.
• Focus on backward integration and diversification of the supplier base.
• Focus on leveraging new technologies to improve efficiency.
• Strengthen presence across diverse client segments within India.
• Expand sales in overseas markets.

Company Promoters

1. Manjunatha Donthi Venkatarathnaiah,
2. Shubha Manjunatha Donthi,
3. Suhas Donthi Manjunatha,
4. Sumanth Manjunatha Donthi.

Refer to Emmvee Photovoltaic IPO RHP for detailed Information.

IPO Details

Emmvee photovoltaic ipo date: 11 – 13 Nov 2025

Minimum Amount: ₹14,973

Minimum Bid: 69 Shares

Face Value (FV): ₹1

Listing On = NSE, BSE

Book Running Lead Managers

JM Financial

IIFL Capital Services

Jefferies India

Kotak Mahindra Capital

Financial

CONCLUSION

FinBlab recommends ‘SUBSCRIBE‘ Ratings on Emmvee Photovoltaic IPO

Do come back to know more about “upcoming ipos“

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or FinBlab do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Emmvee Photovoltaic IPO – Review appeared first on Upcoming ipos: Latest news on stocks, economy & finance.