Emmvee Photovoltaic IPO Listing In Focus: Check Date, GMP, Expected Share Price Ahead Of D-Street Debut
Emmvee Photovoltaic Power Share Price: Based on the current GMP, investors can expect a flat listing when the stock debuts on the market this week.
The IPO of Emmvee Photovoltaic Power Ltd., which concluded its subscription on Thursday, will debut on the stock market this week. The share allotment status for the Emmvee Photovoltaic IPO was finalised on Friday. Successful bidders will be allotted the shares on Monday, November 17.
Shares of Emmvee Photovoltaic Power Ltd. will list on the BSE and NSE on Tuesday, November 18.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, suggests a flat listing for the company's shares. Earlier, amid tepid interest, the GMP for the mainboard offering of the Emmvee Photovoltaic Power IPO had continued to decline, suggesting a high chance of a muted listing, if not a discounted listing.
The IPO of the integrated solar PV module and cell manufacturer 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
Emmvee Photovoltaic Power IPO GMP Today
The grey market premium (GMP) for the Emmvee Photovoltaic IPO was Rs 0 as of 8:30 a.m. on November 17, 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.
