Indian Solar Photovoltaic Modules Maker Emmvee Files For IPO

Emmvee Photovoltaic Power has submitted a draft prospectus with India’s markets regulator seeking to raise funds via an initial public offering.

• Bangalore-based maker of solar photovoltaic modules and solar cells seeks SEBI approval for a INR30 Billion ($351 million) India IPO

• Co. to sell up to INR21.44 billion of new shares, founders are offering up to INR8.56 billion of shares

• Book running lead managers are JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital