
Emmvee Photovoltaic Power
Open Date
11 Nov 2025
Close Date
13 Nov 2025
Min Investment
₹14973
Lot Size
69 Shares
Issue Size
₹2900 Cr
Price Range
₹206 - ₹217
Listing Date
Nov 18, 2025
IPO Doc
RHP PDFAbout Emmvee Photovoltaic Power
Incorporated on March 2007, Emmvee Photovoltaic Power Limited is an integrated solar PV module and cell manufacturing company. The company has, as of May 31, 2025, a solar PV module capacity of 7.80 GW and a solar cell capacity of 2.94 GW. The product range of the company consists of bifacial and mono-facial TOPCon modules and cells, and Mono PERC modules. The company operates four production facilities in two locations in Karnataka spanning 22.44 acres.As of May 31, 2025, the Solar cell manufacturing unit of the company at Dobbaspet, Bengaluru, Karnataka is India's largest TOPCon solar cell facility by capacity.The customers of the company are independent power producers (IPPs), organizations in the commercial and industrial (C&I) sector, and engineering, procurement, and construction (EPC) service providers in public and private sectors. The key customers are Ayana Renewable Power, Clean Max Enviro Energy, Hero Rooftop Energy, Prozeal Green Energy, KPI Green Energy, Aditya Birla Renewables, Blupine Energy, Lineage Power, BN Peak Power-I, KMV Projects, Powertrack Packaging, SILRES Energy, Kintch Synergy, Zodiac Energy, E Ramamurthy Minerals and Metals, InSolare Energy, Universal Transformers, and Mars Energy Group. During 2023- 2023, we had served 525 customers.As of March 31, 2025, the company employed 611 full-time people.
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Emmvee Photovoltaic Power IPO - Issue Objectives
₹1,621.29 crore will be used for debt repayment/prepayment. IPO funds will cover general corporate use and unidentified acquisitions.
Repayment of loans
75.62%
General corporate purposes
24.3%
Repayment of loans
₹1,621.29 crore will be used for debt repayment/prepayment.
General corporate purposes
IPO funds will cover general corporate use and unidentified acquisitions.
IPO Subscription Status
Financials of Emmvee Photovoltaic Power
In Cr.
Revenue: ₹1,042.22
EBITDA: ₹347.38
Profit: ₹187.68
| Key Performance Indicator | 30-Jun-25 (In Cr.) | 31-Mar-25 (In Cr.) | 31-Mar-24 (In Cr.) | 31-Mar-23 (In Cr.) |
|---|---|---|---|---|
| Revenue | 1,042.22 | 2,360.33 | 954.44 | 644.37 |
| EBITDA | 347.38 | 721.94 | 120.44 | 56.27 |
| Expenses | ||||
| Profit After Tax | 187.68 | 369.01 | 28.90 | 8.97 |
| Assets | 4,347.72 | 3,913.94 | 2,189.99 | 840.79 |
| Net Worth | 718.79 | 531.41 | 162.77 | 133.97 |
| Reserves | 608.83 | 529.37 | 160.73 | 131.93 |
| Borrowing | 2,032.11 | 1,949.69 | 1,441.30 | 519.62 |
Emmvee Photovoltaic Power - Promoter(s)
Manjunatha Donthi Venkatarathnaiah
Shubha Manjunatha Donthi
Suhas Donthi Manjunatha
Sumanth Manjunatha Donthi
100%
80.70%
About Strength & Risks
Contact Details
Emmvee Photovoltaic Power
13/1, International Airport Road, Bettahalasur Post, Bengaluru, Karnataka, 562157
Registrar Contact Details
Emmvee Photovoltaic Power IPO - FAQs
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