Quick Read
Summary is AI Generated. Newsroom Reviewed
-
Shares of Emmvee Photovoltaic Power Ltd. will list on BSE and NSE on November 18
-
The IPO was undersubscribed with a 0.97 times overall subscription rate
-
Grey market premium indicated a flat listing for Emmvee shares on listing day
Shares of Emmvee Photovoltaic Power Ltd. will list on the BSE and NSE on Tuesday, November 18.
The IPO of Emmvee Photovoltaic Power Ltd., which concluded its subscription on Thursday, remained undersubscribed, with an overall subscription of 0.97 times or 97%. According to BSE data, investors bid for 75,044,538 shares against the 77,427,183 on offer for the Emmvee Photovoltaic Power IPO
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, suggests a flat listing for the shares of an integrated solar PV module and cell manufacturer. Earlier, amid tepid interest, the GMP for the mainboard offering of the Emmvee Photovoltaic Power IPO had declined, suggesting a high chance of a muted listing, if not a discounted listing.
Emmvee Photovoltaic Power Expected Share Price
The grey market premium (GMP) for the Emmvee Photovoltaic IPO was Rs 0 as of 7:00 a.m. on November 18, indicating a flat listing for the shares of the solar PV module manufacturer.
The highest GMP for the mainboard IPO was Rs 20, recorded on November 10, a day before the IPO was launched. The grey market premium slid post-launch to Rs 5 on Day 1 of subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
About Emmvee Photovoltaic Power IPO
The Emmvee Photovoltaic IPO is a book-building issue worth Rs 2,900 crore. The IPO comprises a fresh issue of 9.88 crore shares, aggregating to Rs 2,143.86 crore, and an OFS component of 3.48 crore shares, worth Rs 756.14 crore.
The price band for the IPO was set at Rs 206 tp Rs 217 per share. Each lot contains 69 shares, requiring a minimum investment of Rs 14,973 by retail investors.
Founded in March 2007, Emmvee Photovoltaic Power Ltd. is an integrated manufacturer of solar PV modules and cells. The company operates four manufacturing units across two locations in Karnataka, totalling an area of 22.44 acres.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
RECOMMENDED FOR YOU
Tenneco Clean Air IPO Listing: Check Date, GMP, Expected Share Price Ahead Of D-Street Debut
Fujiyama Power, Capillary, PhysicsWallah Among IPOs To List This Week; GMP Hints Up To 45% Gains
Emmvee Photovoltaic IPO Listing In Focus: Check Date, GMP, Expected Share Price Ahead Of D-Street Debut
Studds Accessories Shares Debut At 3% Discount Over IPO Price
POPULAR