Another IPO opens for subscription today. Investors can bid for Emmvee Photovoltaic Power IPO starting today, November 11. The book build issue will raise Rs 2,900 crores by going public. The IPO is a mix of fresh issuance of 9.88 crore shares aggregating Rs 2,143.86 crores and an offer for sale of 3.48 crore shares worth Rs 756.14 crores.
Emmvee Photovoltaic IPO: IPO price band
The company has set the price band between Rs 206 and Rs 217 per equity share. The issue will take the last bids on November 13.
Emmvee Photovoltaic IPO: GMP
The grey market premium (GMP) of Emmvee Photovoltaic has remained consistently over 9%. The stock was trading at a GMP of Rs 237, indicating a listing gain of Rs 1,380 on one lot.
Investors should know that the grey market is an unofficial trading platform, and the final listing price could differ a lot.
Emmvee Photovoltaic IPO: Allotment and listing
Post the end of bidding, the allotment for the Emmvee Photovoltaic shares is expected to be finalised on November 14. The listing of shares on BSE and NSE is likely to be on November 18, as per the tentative schedule.
Emmvee Photovoltaic IPO: Lot size
A retail application can apply for a minimum of 69 shares in one lot, amounting to Rs 14,973. The lot size investment for a small NII is 14 lots of 966 shares, sum up to Rs 2 lakh, and for a big NII, it is 67 lots of 4,623 shares, aggregating to Rs 10 lakh.
Emmvee Photovoltaic IPO: Book runner and registrar
JM Financial is the lead book runner for the IPO, and Kfin Technologies is the registrar to the issue.
Emmvee Photovoltaic IPO: Expert take
At the upper price band, Emmvee Photovoltaic Power is valued at a Price/Earnings (P/E) ratio of 40.7x relative to its FY25 earnings. The market capitalisation post issue of equity shares is Rs 15,023.8 crore. Anand Rathi Research in an IPO note concluded that the IPO is fully priced and gave a ‘Subscribe–Long Term’ rating to the IPO.
About Emmvee Photovoltaic
Emmvee Photovoltaic is the second-largest pure-play, fully integrated solar PV module and cell manufacturer in India. It is recognised as one of the country’s foremost solar PV module producers, known for consistently delivering high-quality and reliable products.
Also, the company has established enduring partnerships with a wide and diversified customer base, supported by a strong and expanding order book that demonstrates its credibility and market leadership.
