31 Mar 2023
Assets840.79
Total Income644.37
EBITDA56.27
Profit After Tax8.97
NET Worth133.97
Reserves and Surplus131.93
Total Borrowing519.62
At a glance
Updated 2026-08-24Emmvee Photovoltaic is a Mainboard IPO with an issue size of ₹2,900.00 crore, proposed for listing on BSE, NSE. The offer opens on 11th Nov 2025 and closes on 13th Nov 2025. The issue structure includes a fresh issue of ₹2,143.86 crore and an offer-for-sale component of ₹756.14 crore. The current listing schedule points to 18th Nov 2025.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹2,900.00 Cr
Fresh issue₹2,143.86 Cr
Offer for sale₹756.14 Cr
Face value₹2
Price band₹206.00–₹217.00
Allotment14th Nov 2025
Listing18th Nov 2025
Grey market
GMP page ↗Latest GMP₹0.00
GMP / upper price0.00%
Est. listing₹217.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens11th Nov 2025
Closes13th Nov 2025
Allotment14th Nov 2025
Refund17th Nov 2025
Demat17th Nov 2025
Listing18th Nov 2025
Subscription demand
Full bidding ↗Total0.00×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 69 | ₹14,973 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by the Company and the Material Subsidiary | ₹1,621.29 Cr |
| General Corporate Purposes | ₹438.71 Cr |
| Issue Expenses | ₹110.47 Cr |
| Total | ₹2,170.48 Cr |
Financials
Full financials ↗31 Mar 2024
Assets2,189.99
Total Income954.44
EBITDA120.44
Profit After Tax28.90
NET Worth162.77
Reserves and Surplus160.73
Total Borrowing1,441.30
31 Mar 2025
Assets3,913.94
Total Income2,360.33
EBITDA721.94
Profit After Tax369.01
NET Worth531.41
Reserves and Surplus529.37
Total Borrowing1,949.69
30 Jun 2025
Assets4,347.72
Total Income1,042.22
EBITDA347.38
Profit After Tax187.68
NET Worth718.79
Reserves and Surplus608.83
Total Borrowing2,032.11
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 104.60% |
| ROCE | 23.33% |
| Debt / Equity | 3.63% |
| RoNW | 69.44% |
| PAT Margin | 15.80% |
| EBITDA Margin | 30.91% |
| Price to Book Value | 24.25 |
Valuation & shareholding
Pre-IPO EPS6.22
Post-IPO EPS10.84
Pre-IPO P/E34.9
Post-IPO P/E20.01
Promoter holding pre99.22%
Promoter holding post80.03%
Market cap₹15023.89 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest thereon availed by the Company and the Material Subsidiary | ₹1,621.29 Cr |
| General Corporate Purposes | ₹438.71 Cr |
| Issue Expenses | ₹110.47 Cr |
| Total | ₹2,170.48 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- Kotak Mahindra Capital Co.Ltd.
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.