Emmvee Photovoltaic IPO window opens on Nov 11 , 2025, and closes on Nov 13, 2025. This Book Built Issue 2,900.00 Crores and IPO Price Band 206 to 217 per Share, 1 Lots 69 Share Fresh Issue 2,143.86.00 Crores Offer for Sale 380.00 Crores This Share are Listing BSE, NSE November 18, 2025
IPO Details
| IPO Open Date | Nov 11, 2025 |
| IPO Close Date | Nov 13, 2025 |
| Face Value | 2 per Share |
| Lot Size | 69 Share |
| IPO Price Band | 206 to 217 per Share |
| Issue Size | 2,900.00 Crores |
| Offer for Sale | 380.00 Crores |
| Fresh Issue | 2,143.86.00 Crores |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
IPO Deadline
IPO opens on Nov 11, 2025, and closes on Nov 13, 2025.
| IPO Open Date | November 11, 2025 |
| IPO Close Date | November 13, 2025 |
| IPO Allotment Date | November 14, 2025 |
| Refunds Money | November 17, 2025 |
| Share Credit to Demat | November 17, 2025 |
| Share Listing Date | November 18, 2025 |
| IPO Cut-off Time | 5 PM on Nov 13, 2025 |
IPO Market Lot Size
The Emmvee Photovoltaic IPO minimum market lot is 69 shares with ₹14,973application amount. The retail investors can apply up-to 13 lots with 897shares of ₹1,94,649 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 69 | 14,973 |
| Retail Maximum | 13 | 897 | 1,94,649 |
| S-HNI Minimum | 14 | 966 | 2,09,622 |
| S-HNI Maximum | 66 | 4,554 | 9,88,218 |
| B-HNI Minimum | 67 | 4,623 | 10,03,191 |
IPO Reservation
| Investor Category | -% Shares |
| Employee Shares Offered | |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
| Total Shares Offered | 100% |
Promoters and Holding Pattern
The promoters of the company are Manjunatha Donthi Venkatarathnaiah, Suhas Donthi Manjunatha, Shubha Manjunatha Donthi, and Sumanth Manjunatha Donth
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 59,35,49,550 | 100% |
| Promoter Holding Post Issue | 69,23,45,033 |
Emmvee Photovoltaic IPO Financial Report
| Period Ended | Revenue | Expense | PAT |
| 2023 | 644.37 | 632.70 | 8.97 |
| 2024 | 954.44 | 906.82 | 28.90 |
| 2025 | 2,360.33 | 1,877.51 | 369.01 |
| June 2025 | 1,042.22 | 802.03 | 187.68 |
Emmvee Photovoltaic IPO Valuation – FY2025
| KPI | Values |
| ROCE | 23.33% |
| ROE | 104.60% |
| RoNW | 69.44% |
| EBITDA Margin | 30.91% |
| Price to Book Value | 24.25 |
| Market Capitalization | 15,023.89 |
| P/E Ratio | 34.9 |
| EPS | 6.22 |
Company Financial Report
| Years | Reserves & Surplus | Assets | Total borrowing |
| 30 Jun 2025 | 608.83 | 4,347.72 | 2,032.11 |
| 31 Mar 2025 | 529.37 | 3,913.94 | 1,949.69 |
| 31 Mar 2024 | 160.73 | 2,189.99 | 1,441.30 |
| 31 Mar 2023 | 131.93 | 840.79 | 519.62 |
| Emmvee Photovoltaic Ltd. Contact Details |
| Emmvee Photovoltaic Power Ltd. 13/1, International Airport Road Bettahalasur Post Bengaluru, Karnataka, 562157 Phone: +91 80 2217 4524 Email: investorrelations@emmvee.in Website: https://www.emmveepv.com/ |
| Emmvee Photovoltaic IPO Registrar |
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: Emmvee.ipo@kotak.com Website: https://ipostatus.kfintech.com/ |
Emmvee Photovoltaic IPO Lead Manager(s)
- JM Financial Ltd.
- IIFL Capital Services Ltd.
- Jefferies India Pvt.Ltd.
- Kotak Mahindra Capital Co.Ltd.