- Emmvee Photovoltaic IPO subscribed 0.30 times as of Nov 13 afternoon
- IPO worth Rs 2,900 crore with fresh issue and offer-for-sale shares
- Price band set between Rs 206 and Rs 217 per share, lot size 69 shares
The initial public offering of Emmvee Photovoltaic Power Ltd. closed on Thursday, without sull subscription.
The IPO was a book-built issue worth Rs 2,900 crore and comprised a fresh issue of 9.88 crore shares, amounting to Rs 2,143.86 crore, and an offer-for-sale of 3.48 crore shares, aggregating to Rs 756.14 crore.
The price band for the Emmvee Photovoltaic IPO was between Rs 206 and Rs 217 per share. The lot size comprises 69 shares, requiring a minimum investment of Rs 14,973 for retail investors.
The IPO allotment status is expected to be finalised on Nov. 14. The company is scheduled to initiate refunds and transfer of shares to demat accounts on Nov. 17.
The stock will be listed on the BSE and NSE on Tuesday, Nov. 18.
Emmvee Photovoltaic Power was incorporated in March 2007. It manufactures solar PV modules and solar cells. As of May 31, the company has a solar PV module capacity of 7.80 GW and a solar cell capacity of 2.94 GW.
The company's product portfolio includes bifacial and mono-facial TOPCon modules and cells, and Mono PERC modules. It has four manufacturing units across two Karnataka locations.
Subscription Status
The Emmvee Photovoltaic Power IPO has been subscribed 97% on Thursday as of 7:00 p.m., as per BSE data.
Qualified Institutional Buyers (QIBs): 1.26 times.
Non-Institutional Investors (NIIS): 0.3 times.
Retail Individual Investors: 1.1 times.
Emmvee Photovoltaic Power IPO GMP
In the unlisted market, Emmvee Photovoltaic IPO price is now flat, according to InvestorGain. The latest GMP indicates no listing gain over the upper end of the price band of Rs 217 per share.
Note: GMP does not represent official data and is based on speculation.
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.
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