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Emmvee IPO Day 3 LIVE: The initial public offering of makers of solar photovoltaic modules and solar cells Emmvee Photovoltaic Power Ltd opened for public subscription on Tuesday, November 11 and will conclude on Thursday, November 13.

Emmvee IPO GMP today is ₹3. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Emmvee Photovoltaic share price was indicated at ₹220 apiece, which is 1.38% higher than the IPO price of ₹217.

Emmvee IPO price band has been fixed in the range of ₹206 to ₹217 per equity share of the face value of ₹2. As stated by the company, 75% of the total issue size is allocated for qualified institutional buyers, 15% for non-institutional investors, and the last 10% for retail investors. Investors may place bids for a minimum of 69 shares and in multiples of that amount.

Emmvee Photovoltaic IPO includes a new issue of shares valued at ₹2,143.86 crore and an offer for sale (OFS) of shares worth ₹756.14 crore from promoters, bringing the total size of the issue to ₹2,900 crore.

The proceeds from the fresh issue, which exceed ₹1,621 crore, will be allocated for the repayment or prepayment of loans and interest incurred by the company and its major subsidiary, as well as for general corporate purposes.

These funds will support the company's expansion and growth initiatives.

(Stay tuned for more updates)

Emmvee IPO Day 3 LIVE: According to Nirmal Bang, though the debt-to-equity ratio of 3.8x is higher than peers, it will improve after the planned ₹1,621.3 crore debt repayment from IPO proceeds. On valuation, Emmvee trades at lower EV/EBITDA (23.2x) and P/E (40.7x) multiples versus peers, indicating attractive pricing.

“Backed by strong order visibility, capacity expansion, and robust profitability, we recommend a “Subscribe” rating to this IPO,” said the brokerage.

Emmvee IPO Day 3 LIVE: Swastika Investmart noted that at a P/E of 34.9x, the valuation seems fair to somewhat on the expensive side compared to competitors like Websol and Saatvik. Considering its steady growth, enhancing profit margins, and favorable industry trends due to India’s solar expansion, Emmvee holds strong long-term prospects. According to the brokerage, this company presents an attractive opportunity in the renewable energy sector, making it appropriate for medium- to long-term investment.

Emmvee IPO Day 3 LIVE: As per SBICAP Securities, the offering appears to be reasonably valued in comparison to its competitors. The brokerage anticipates that profitability will keep enhancing due to the debt repayment funded by the proceeds from the issue. SBICAP Securities advises investors to SUBSCRIBE to the IPO at the cut-off price for a long-term investment perspective.

Emmvee IPO Day 3 LIVE: As stated by the company, 75% of the total issue size is allocated for qualified institutional buyers, 15% for non-institutional investors, and the last 10% for retail investors.

Emmvee IPO Day 3 LIVE: Emmvee IPO GMP today is ₹3. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Emmvee Photovoltaic share price was indicated at ₹220 apiece, which is 1.38% higher than the IPO price of ₹217.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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