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Emmvee Photovoltaic Power is gearing up to hit Dalal Street with a ₹2,900 crore IPO.
The company designs and manufactures solar modules and provides solar energy solutions for industrial, commercial, and residential projects across the globe.
Note: this will be the fifth solar PV module & cell manufacturer to go public in just over a year, following Waaree Energies, Premier Energies, Vikram Solar, and Saatvik Green Energy. Together, these companies have already raised over ₹10,000 crore through IPOs.
Breaking it down: Emmvee plans to raise ₹2,143.9 crore through fresh share issuance, while promoters Manjunatha Donthi Venkatarathnaiah and his wife Shubha will sell shares worth ₹756.1 crore.
What’s next: the company aims to expand capacity by setting up a new line to produce 2.5 GW of solar panels and build an integrated facility capable of manufacturing 6 GW of solar cells and modules.
Big picture: India’s solar manufacturing capacity is on track to exceed 125 GW by 2025, more than three times the domestic demand of around 40 GW.
This boom, driven by the government’s Production Linked Incentive (PLI) scheme has led to a surge in new factories and investments, positioning India as a global hub for solar manufacturing.
