Emmvee Photovoltaic IPO had opened for subscription on November 11 and closed on November 13. The mainboard IPO is all set to make its stock market debut on Tuesday, November 18.
The shares of will be listed on both exchanges – Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
According to the GMP trends in the unofficial market, the shares of are likely to witness a flat listing on the Indian stock market.
Emmvee Photovoltaic IPO GMP today
The shares of are currently at a premium of ₹0 in the grey market, as per Investorgain. This means that the GMP of Emmvee Photovoltaic IPO is +0.
The estimated listing price of is likely to be the same as the issue price of ₹217. The lowest GMP of Emmvee Photovoltaic IPO is ₹0, while the highest GMP is ₹20.
Emmvee Photovoltaic IPO details
The allotment of was finalised on Friday, November 14.
The IPO garnered a lukewarm response, falling short of full subscription during the three-day bidding window. Emmvee Photovoltaic Power saw subscriptions for 7,50,44,538 shares, or 97% of the 7,74,27,183 shares on offer, according to NSE data.
Among investor categories, qualified institutional buyers (QIBs) subscribed 1.26 times the shares reserved for them, while retail individual investors (RIIs) subscribed 1.10 times. However, the non-institutional investor (NII) segment saw only 30% subscription.
The Emmvee Photovoltaic IPO includes a fresh issue of shares worth ₹2,144 crore and an offer for sale of ₹756 crore by the promoters.
The total issue size of ₹2,900 crore is priced between ₹206 and ₹217 per share, giving the company an estimated valuation of approximately ₹15,000 crore at the upper end of the price band.
Of the proceeds from the fresh issue, ₹1,621 crore will be used to repay or prepay certain loans taken by Emmvee and its subsidiary. The balance will be allocated for general corporate purposes. As per the draft documents, Emmvee’s total borrowings stood at nearly ₹1,950 crore as of March 2025.
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