Emmvee Photovoltaic IPO Day 2: Bengaluru-Based Company Offering Subscribed by 16% On Second Day; Check GMP

The initial public offering (IPO) of Emmvee Photovoltaic received 0.16 times subscription on the second day of bidding. The Bengaluru-based solar energy company received 0.06 times bids from qualified institutional buyers, non-institutional investors bid for 0.10 times, while retail individuals subscribed 0.55 times.

The public offering of 2,900 crore IPO opens for subscription on November 11, 2025 and closes on November 13, 2025.  Emmvee Photovoltaic Power Ltd IPO received bids for 95.21-lakh shares against 7.74-crore shares on offer, as per NSE data.

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Emmvee Photovoltaic IPO has fixed a price band at Rs 206 to Rs 217 per share with a lot size of 69 shares for the minimum investment of Rs 14,214. The tentative date of share allotment to investors is set on November 14, 2025 and the tentative date of listing on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will be on November 18, 2025.

Emmvee Photovoltaic IPO GMP 

The share price of Emmvee Photovoltaic in a grey market premium (GMP) of Rs 2, which is 0.92% over the IPO price band. The estimated listing price is Rs 219. The price in the GMP falls by Rs 3 from the IPO opening date of Rs 5. 

The issue consists of a fresh share sale worth Rs 2,143.86 crore and an offer for sale (OFS) of shares valued at Rs 756.14 crore by promoters. About Rs 1,621 crore will be used to repay or prepay borrowings and interest of the company and its key subsidiary.

JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital Company are the book-running lead managers for the IPO.

About Emmvee Photovoltaic 

Emmvee Photovoltaic Power Ltd was formed on March 21, 2007, to develop and manufacture high-performance Photovoltaic (PV) modules and systems. Emmvee Photovoltaic Power has its headquarters in Bengaluru. The solar energy company have sales offices across India and Germany.