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Emmvee Photovoltaic Plans ₹2,900 Crore IPO to Boost Solar Manufacturing Capacity
Emmvee Photovoltaic seeks ₹2,900 crore through IPO to expand solar-module capacity and integrate cell production for global exports.
Emmvee Photovoltaic Ltd has filed for a ₹2,900 crore public issue comprising a ₹2,143.9 crore fresh issue and a ₹756.1 crore offer-for-sale. Proceeds will fund expansion of its Bengaluru solar-module plant and backward-integration for cell production. The IPO reflects investor interest in India’s clean-energy sector ahead of a planned 2030 renewables push.
Analysts expect listing before year-end given regulatory clearances. Emmvee currently exports modules to Europe and the Middle East and targets 5 GW annual capacity by FY27.