Bengaluru-based solar energy company Emmvee Photovoltaic Power has taken a significant step toward going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on July 6. The firm aims to raise ₹3,000 crore through an initial public offering (IPO).
The IPO will include:
Additionally, Emmvee may opt for a pre-IPO placement of up to ₹428.8 crore, which would proportionately reduce the fresh issue size if executed.
A significant portion of the funds raised—₹1,607.9 crore—will be allocated to reduce the company's consolidated borrowings, which stood at ₹2,709.7 crore as of June 14, 2025. The remaining capital will be used for general corporate purposes.
Emmvee is currently one of India’s largest solar PV manufacturers, operating:
The company is undertaking a major capacity expansion with plans to add:
By the first half of FY28, Emmvee targets a total manufacturing capacity of:
Competing with peers like Websol Energy Systems, Waaree Energies, and Premier Energies, Emmvee has carved out a strong market position. Over the last three years, it has served more than 525 customers, including:
As of FY25-end, the company had an order book of 4.89 GW, with an additional 1.01 GW in new orders secured during April–May 2025.
Also Read: Upcoming IPOs This Week: 2 Mainboard and 3 SME IPOs Set to Open This Week Starting from July 7
Emmvee has demonstrated robust financial performance:
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Published on: Jul 7, 2025, 8:42 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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