Emmvee Photovoltaic Power Sets IPO Price for Solar Surge

Emmvee Photovoltaic Power Ltd, a leader in solar photovoltaic module and cell manufacturing, has announced a price band of Rs 206 to Rs 217 for its upcoming IPO, aiming for a valuation of over Rs 15,000 crore.

The public offering consists of a fresh issue worth Rs 2,143.86 crore and a promoter-led offer for sale of Rs 756.14 crore, totaling Rs 2,900 crore. The IPO, set to open to the public on November 11, will close on November 13, with shares distributed to anchor investors November 10.

Significant proceeds from the offer aim to repay or prepay company loans, reduce debt, and support general corporate needs. The flourishing solar sector in India, reflected in Emmvee's increasing production capacity and government initiatives, highlights a booming renewable energy future.