Emmvee Photovoltaic IPO Final Day: Issue continues to see tepid investor response—Check latest subscription status

Emmvee Photovoltaic IPO: The initial public offering (IPO) of Emmvee Photovoltaic Power Limited stepped into its final day of public subscription today, November 13, with the issue subscribed to only 22 per cent so far, as per the provisional exchange data. The issue is a combination of a fresh issue and an offer for sale (OFS) of shares aggregating to around 13.36 crore shares.

The basis of allotment of the IPO shares is expected to be finalised on November 14, 2025, and the stock is likely to list on both the stock exchanges (BSE and NSE) on November 18, 2025, tentatively.

Emmvee Photovoltaic IPO subscription status

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As of 12 pm, investors have bid for 1.71 crore shares out of the total shares on offer. The subscription includes bids from institutional buyers, institutional investors and the retail investor category who have booked the issue 0.06 times, 0.16 times and 0.80 times out of their allotted portions, respectively.

In terms of shares, the QIBs, NIIs, and RIIs have booked 23.81 lakh, 34.43 lakh and 1.13 crore shares out of their allotted portions, respectively.

Emmvee Photovoltaic IPO details

The Emmvee Photovoltaic Power IPO is a book-build issue of Rs 2,900 crore, comprising a fresh issue of 9.88 crore shares (Rs 2,143.86 crore) and an offer-for-sale (OFS) of 3.48 crore shares (Rs 756.14 crore).

Through OFS, the company's promoters, Manjunatha Donthi Venkatarathnaiah, Shubha Manjunatha Donthi, Suhas Donthi Manjunatha and Sumanth Manjunatha Donthi, are offloading their stakes.

Price band: Rs 206 to Rs 217 per equity share

Subscription date: From November 11 to November 13, 2025

Lot size: 69 shares (minimum investment of Rs 14,973)

Allotment date: November 14, 2025 (tentatively)

Listing date: November 18, 2025 (tentatively)

Emmvee Photovoltaic Power Limited company profile

Emmvee Photovoltaic Power Limited, which was incorporated in March 2007, has an integrated manufacturing setup consisting of solar cells and modules.

The range of products of the company consists of bifacial and mono-facial TOPCon modules & cells, and Mono PERC modules.

Financially, the company reported a revenue increase of 147 per cent and profit after tax (PAT) rose by 1177 per cent in the financial year ending March 31, 2025.