Emmvee Photovoltaic IPO – Dates, Price Band, Lot Size, Strengths, Risks & Full Company Overview
The Emmvee Photovoltaic Power Limited IPO has grabbed investor attention in India’s renewable energy space. Known for its innovation in solar module manufacturing, the company is launching its IPO to fund capacity expansion, R&D, and working capital.
If you want to invest in this IPO, you can open a free Demat account on Upstox in just a few minutes and apply online.
📅 Emmvee Photovoltaic IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | November 11, 2025 |
| IPO Close Date | November 13, 2025 |
| Price Band | ₹206 – ₹217 per share |
| Lot Size | 69 shares |
| Minimum Investment | ₹14,214 |
| Issue Size | ₹2,900 crore |
| Face Value | ₹10 per share |
| Listing Date (Tentative) | November 18, 2025 |
| Registrar | KFin Technologies Ltd |
The IPO comprises a fresh issue aimed at capacity enhancement and technological advancement in high-efficiency solar cells and modules.
☀️ About Emmvee Photovoltaic Power Ltd
Founded in 2007, Emmvee Photovoltaic Power Ltd is a leading manufacturer of solar photovoltaic modules and solar cells. The company’s offerings include bifacial and mono-facial TOPCon modules, primarily used in utility, residential, and commercial solar projects.
It also undertakes turnkey EPC projects and provides solar water-heating solutions across India and select international markets.
📈 Emmvee Photovoltaic Financial Highlights
| Financial Year | Revenue (₹ Cr) | Assets (₹ Cr) | Profit (₹ Cr) |
|---|---|---|---|
| FY23 | 818.13 | 602.41 | 47.82 |
| FY24 | 1,616.90 | 892.12 | 83.45 |
| FY25 | 2,336.51 | 1,240.32 | 136.27 |
The company’s consistent growth in revenue and profitability showcases its strong operational capabilities in India’s clean energy segment.
💪 Strengths of Emmvee Photovoltaic
1. Certified and Trusted Brand
Emmvee’s modules are BIS, ALMM, and IEC-certified, ensuring quality, durability, and global acceptance.
2. Strong R&D Collaboration
Partnership with Fraunhofer Institute for Solar Energy Systems (ISE), Germany helps Emmvee stay ahead in technological innovation and energy efficiency.
3. Expanding Manufacturing Capacity
The company is increasing its annual solar module capacity to meet the rising domestic and export demand.
4. Long-term Client Relationships
It serves reputed clients like Ayana Renewable Power, CleanMax, Birla Renewables, KP Green Energy, and Blupine Energy.
5. Focused on Sustainable Growth
With a growing presence in green energy, Emmvee is strategically aligned with India’s renewable energy mission for 2030.
⚠️ Weaknesses / Risks of Emmvee Photovoltaic
1. High Dependence on Solar Industry
Emmvee’s revenue depends heavily on government policies and solar project incentives.
2. Market Competition
The company faces stiff competition from other Indian and international solar module manufacturers such as Waaree, Vikram Solar, and Adani Solar.
3. Raw Material Cost Fluctuations
Silicon wafer and glass prices directly impact profitability due to limited domestic suppliers.
4. Limited Export Market Share
Although expanding globally, Emmvee still derives a majority of its revenue from domestic clients.
🧾 IPO Application Process
❓ Frequently Asked Questions (FAQs)
🔹 What is the Emmvee Photovoltaic IPO issue size?
The total issue size is approximately ₹2,900 crore.
🔹 What is the Emmvee Photovoltaic IPO price band?
The price band has been fixed between ₹206 and ₹217 per share.
🔹 What is the minimum investment required?
Retail investors can start with a minimum of ₹14,214 (69 shares) per lot.
🔹 When will the IPO open and close?
The IPO will open on November 11, 2025, and close on November 13, 2025.
🔹 When is the Emmvee Photovoltaic IPO allotment date?
The tentative allotment date is November 14, 2025.
🔹 When is the IPO listing date?
The shares are expected to list on November 18, 2025, on both BSE and NSE.
🔹 How to apply for this IPO?
You can apply using ASBA through your bank or via trading apps such as Upstox, Groww, or Zerodha.
🔹 Is Emmvee Photovoltaic a good investment?
The company’s consistent growth, strong R&D tie-ups, and clean energy focus make it attractive for long-term investors, though market competition remains a factor to watch.
📊 Final Verdict
The Emmvee Photovoltaic IPO offers investors a strong opportunity in India’s renewable energy growth story. With proven expertise, robust expansion plans, and technological innovation, Emmvee is well-positioned for sustained performance.
However, investors should evaluate risks related to raw material dependency and market volatility before investing.
If you haven’t yet, you can open your free Upstox account and get ready to apply for this IPO instantly.
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