Emmvee Photovoltaic IPO GMP Signals Over 9% Listing Gain Ahead Of Launch; Check Details
The price band for the IPO is set between Rs 206 and Rs 217 per share.
Emmvee Photovoltaic Power is set to launch an initial public offering (IPO) to raise almost Rs 3,000 crore. It is a manufacturer of solar cells and modules. Ahead of its listing, the grey market premium (GMP) indicated a premium of over 9% for the issue.
Investors who want to bid for shares in the IPO must check the following details before making an investment call.
Emmvee Photovoltaic IPO GMP Today
According to InvestorGain, the GMP for the Emmvee Photovoltaic IPO stood at Rs 20 as of 9:00 a.m. on November 10. It indicates a listing price of Rs 237 per share, a premium of 9.22% on the upper limit of the price band.
The grey market premium for the mainboard offer has remained unchanged for the past few days.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
ALSO READ
IPO Rush: PhysicsWallah, Three Other Mainboard Issues To Open This Week; Groww Listing In Focus
Emmvee Photovoltaic IPO: Key Details
The Emmvee Photovoltaic IPO is a book build issue of Rs 2,900 crore. It comprises a fresh issue of 9.88 crore shares worth Rs 2,143.86 crore and an offer-for-sale (OFS) of 3.48 crore shares amounting to Rs 756.14 crore.
To participate in the IPO, retail investors must bid for a single lot size of 69 shares, requiring an investment of Rs 14,973. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,622. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,03,191.
The price band for the IPO is set between Rs 206 and Rs 217 per share.
JM Financial is the book-running lead manager and KFin Technologies is the registrar of the issue.
The subscription window will be open from November 11 to November 13, with the allotment expected to be finalised on November 14. The company will transfer shares to the demat accounts of successful bidders on November 17, and refunds to non-allottees will be done on the same day.
The company's shares are scheduled to list on the BSE and NSE on November 18.
Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
About Emmvee Photovoltaic
Emmvee Photovoltaic Power is a manufacturer of solar cells and modules. It is headquartered in Bengaluru.
Financials
The company reported a massive 581% year-on-year (YoY) jump in profit after tax (PAT) to Rs 187.68 crore in Q1FY26 from Rs 27.56 crore in Q1FY25. Total income increased 212.6% YoY to Rs 1,042.22 crore in Q1FY26 from Rs 333.41 crore in Q1FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
