Emmvee Photovoltaic's IPO gets solid response, set to list on November 18

Business Nov 17, 2025

Emmvee Photovoltaic, a solar energy company, is making its stock market debut on November 18 after its IPO was subscribed 97%.
The IPO price is set at ₹217 per share, and early signs suggest it'll start trading right around that price—so no big first-day spike.

Where the money's going and who invested

The ₹2,900 crore raised includes fresh funds and shares sold by promoters.
Most of the cash—₹1,621 crore—is going straight toward paying off loans, with the rest for general business needs.
Big institutional investors showed strong interest (subscribing 1.26 times their portion), retail investors joined in too (1.10 times), but non-institutional buyers weren't as keen this time around.