Emmvee Photovoltaic IPO subscribed 9% on Day 1; check GMP, other key details

Emmvee Photovoltaic IPO opens for subscription in the primary market. 

Emmvee Photovoltaic IPO got subscribed 9 percent on the first day of share sale on November 11.

The IPO of the makers of solar photovoltaic modules and solar cells Emmvee Photovoltaic Power Ltd received bids for 67.10-lakh shares against 7.74-crore shares on offer, according to NSE data.

Retail individual investors (RIIs) part got subscribed 32 percent, while the quota for non-institutional investors received 6 percent subscription. Earlier, the company raised Rs Rs 1,305 crore from anchor investors.

The company's Rs 2,900 crore IPO will conclude on November 13. The firm has fixed a price band of Rs 206-217 per share for its initial public offering (IPO), targeting a valuation of over Rs 15,000-crore.

Emmvee Photovoltaic IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of Emmvee Photovoltaic are commanding a GMP in the range of 5-9 percent. Investorgain quoted a GMP of Rs 10 for the shares of the company, indicating a listing gain of 4.61 percent. IPO Watch quoted a GMP of 9 percent.

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Proceeds from the fresh issue worth a little over Rs 1,621 crore be utilised for repayment or prepayment of loans and interest taken by the company and its key subsidiary and a general corporate purposes.

As of March 2025, the company's borrowings stood at close to Rs 1,950 crore, the draft papers showed.

Emmvee Photovoltaic Power will make its stock market debut on November 18, while the share allotment is expected by November 14.

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