Emmvee Photovoltaic IPO listing share price today, November 18: Emmvee Photovoltaic makes a quiet debut, listing at the issue price on the National Stock Exchange at Rs 217, while it is listed at Rs 217 on the BSE. The issue price was set at Rs 217 per share.
The company raised Rs 2,900 crores from the primary markets. The IPO was a combination of 9.88 crore fresh shares aggregating to Rs 2,143.86 crores and an offer for sale of 3.48 crore shares amounting to Rs 756.14 crores.
The company set the cut-off price at Rs 217 per equity share. The allotment for the IPO shares was finalised on November 14.
Emmvee Photovoltaic IPO: Book runner and registrar
JM Financial worked as the book-running lead manager for the IPO, and Kfin Technologies was the registrar of the issue.
“Emmvee’s outlook is anchored in aggressive capacity expansion and a strategic push towards deeper vertical integration, signalling a clear intent to scale its operations and enhance its competitive advantage in the burgeoning solar market. The company’s aggressive expansion and adoption of high-efficiency TOPCon technology present a potentially compelling growth narrative, contingent on successful execution,” said Deven Choksey Research in an IPO note.
About Emmvee Photovoltaic
Emmvee Photovoltaic Power is a vertically integrated manufacturer of solar modules and cells. Its established manufacturing base, focus on high-efficiency technology, and plans for further backward integration make it a significant player in the industry. Emmvee is a prominent solar photovoltaic (PV) module and cell manufacturer operating from its facilities in Karnataka, India.