Bengaluru-based Emmvee Photovoltaic Power, a leading solar energy company in India, is preparing to enter the stock market with a ₹2,900 crore IPO.
Investors are curious whether this IPO could be a golden opportunity, especially as the company plans to double its solar module and cell production in the coming years.
Details of the IPO
IPO Size: ₹2,900 crore
New Shares Issued: ₹2,143.9 crore
Promoter Sale: ₹756.1 crore (by Manjunatha Donthi Venkatarathnaiah and Shubha)
Anchor Book Opens: November 10, 2025
Public Issue: November 11 – 13, 2025
Share Allotment: November 14, 2025
Listing Date: November 18, 2025
This IPO gives investors a chance to participate in a fast-growing solar energy company that uses advanced TOPCon technology in its manufacturing.
About Emmvee Photovoltaic Power
Emmvee is one of India’s largest solar PV module manufacturers, producing both solar modules and cells.
As of June 2025:
Solar Module Production Capacity: 7.80 GW
Solar Cell Production Capacity: 2.94 GW
The company plans to more than double its capacity in the near future, aiming to meet the growing demand for renewable energy in India and abroad.
How the IPO Funds Will Be Used
Debt Repayment: ₹1,621.3 crore for Emmvee and its subsidiary EEPL
General Corporate Purposes: Remaining amount
By using funds to reduce debt, the company aims to strengthen its balance sheet and fund future expansion plans.
Strong Financial Performance
Emmvee has shown remarkable growth in profits over the past year:
Q1 FY2026 Profit (June 2025): ₹187.7 crore (up 581% YoY)
FY2025 Profit: ₹369 crore (up from ₹28.9 crore last year)
This impressive growth makes the IPO attractive for investors looking at the renewable energy sector.
Why This IPO Matters
This is the fifth solar energy IPO in the past year, following companies like Waaree Energies, Premier Energies, Vikram Solar, and Saatvik Green Energy.
With India focusing on clean energy and renewable projects, Emmvee’s IPO gives investors a chance to participate in a growing solar market.
