Emmvee Photovoltaic IPO Opens — Should You Subscribe? Read HDFC Securities Report For Key Issue Details

Emmvee Photovoltaic, a manufacturer of solar cells and modules has fixed the price band between Rs 206 and Rs 217 per equity share. The lot size comprises 69 shares, requiring a minimum investment of Rs 14,973 for retail investors. .NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Retail Research.The Emmvee Photovoltaic IPO launched its initial public offering on November 11 and will conclude on Nov. 13. A manufacturer of solar cells and modules has fixed the price band between Rs 206 and Rs 217 per equity share. The lot size comprises 69 shares, requiring a minimum investment of Rs 14,973 for retail investors. The Emmvee Photovoltaic Power's Rs IPO is a Rs 2,900 crore issue, comprising of fresh issue of up to Rs 2,143.9-crore and offer-for-sale (OFS) of upto 756.1-crore.JM Financial Ltd., IIFL Capital Services Ltd., Jefferies India Private Ltd., Kotak Mahindra Capital Company Ltd. are the book-running lead managers for the public issue while KFin Technologies Ltd. is the registrar to issue.The shares of Emmvee Photovoltaic will be listed on both the National Stock Exchange and the BSE..Objects of Issue: The offer comprises a fresh Issue aggregating up to Rs 2,143.9-crore and an offer for sale of Rs 756.1-crore by the selling shareholders. Offer for Sale Each of the selling shareholders shall be entitled to its respective portion of the proceeds of the offer for sale after deducting its proportion of the offer expenses and relevant taxes thereon. The company will not receive any proceeds from the offer for sale and the proceeds received from the offer for sale will not form part of the net proceeds. Requirements of funds The company proposes to utilize the net proceeds from the fresh issue towards the following (collectively, referred to herein as the “Objects”):  Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by the Company and its Material Subsidiary, EEPL and General corporate purposes and unidentified inorganic acquisitions..Competitive Strengths Second largest pure-play integrated solar PV module and cell manufacturers in India.Early mover advantage in leveraging higher efficiency TOPCon cell technology.Valued relationships with a diverse customer base backed by a substantial order book.Experienced Promoter-led senior management team..Business Strategy: Continued expansion of solar cell and module manufacturing capacity.Strategic focus on further backward integration and diversification of supplier base.Strengthen presence across their diverse customer segments within India.Venture opportunities and expand sales in international markets..Click on the attachment to read the full report:.Emmvee Photovoltaic IPO GMP Declines; Remains Undersubscribed As Subscription Resumes On Day 2.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Emmvee Photovoltaic IPO Opens — Should You Subscribe? Read HDFC Securities Report For Key Issue Details

The Emmvee Photovoltaic Power's Rs IPO is a Rs 2,900 crore issue, comprising of fresh issue of up to Rs 2,143.9-crore and offer-for-sale (OFS) of upto 756.1-crore.

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