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Emmvee Photovoltaic Power

Emmvee Photovoltaic Power

Open Date

11 Nov 2025

Close Date

13 Nov 2025

listed

Min Investment

₹14973

Lot Size

69 Shares

Issue Size

₹2900 Cr

Price Range

₹206 - ₹217

Listing Date

Nov 18, 2025

IPO Doc

RHP PDF

About 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.

Checklist Quality Analysis

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

0(+0.00%)GMP

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%

1

Repayment of loans

₹1,621.29 crore will be used for debt repayment/prepayment.

75.62%
2

General corporate purposes

IPO funds will cover general corporate use and unidentified acquisitions.

24.30%

IPO Subscription Status

Retails
1.09x
QIB
0.71x
NII
0.30x

Financials of Emmvee Photovoltaic Power

In Cr.

Revenue: ₹1,042.22

EBITDA: ₹347.38

Profit: ₹187.68

Total Income
EBITDA
Total Profit
Negative Value
Key Performance Indicator30-Jun-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue1,042.222,360.33954.44644.37
EBITDA347.38721.94120.4456.27
Expenses
Profit After Tax187.68369.0128.908.97
Assets4,347.723,913.942,189.99840.79
Net Worth718.79531.41162.77133.97
Reserves608.83529.37160.73131.93
Borrowing2,032.111,949.691,441.30519.62

Emmvee Photovoltaic Power - Promoter(s)

Manjunatha Donthi Venkatarathnaiah

Shubha Manjunatha Donthi

Suhas Donthi Manjunatha

Sumanth Manjunatha Donthi

Pre Issue Share Holding

100%

Post Issue Share Holding

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

Emmvee Photovoltaic Power IPO is a Mainboard IPO. The issue is priced at ₹206-217 per equity share. The minimum order quantity is 69 Shares. The IPO opens on 11 Nov, and closes on 13 Nov. Kfin Technologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

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