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Emmvee Photovoltaic IPO Share Price LIVE: Emmvee Photovoltaic shares got listed on the Indian stock market today following the conclusion of its initial public offering (IPO).

Emmvee Photovoltaic share price opened at ₹217 on the BSE and the NSE, same as its IPO price, in line with the trends in the grey market.

Emmvee Photovoltaic IPO opened on November 11 and closed on November 13. The listing date for Emmvee Photovoltaic shares is today, November 18. Emmvee Photovoltaic shares will list on both BSE and NSE.

The initial share sale of Emmvee Photovoltaic Power Ltd received 97% subscription of the issue size on the final day of bidding. The part for qualified institutional buyers fetched 1.26 times subscription, while the portion for retail individual investors was subscribed 1.10 times. The category for non-institutional investors subscribed 30 per cent.

Emmvee Photovoltaic’s IPO grey market premium (GMP) stood at ₹0 today ahead of the debut, indicating that the shares were trading at their issue price of ₹217 with no premium or discount in the grey market, according to Investorgain.com.

Over the last 13 sessions, grey market activity has shown a downward trend, and analysts expect the GMP to decline further. During this period, the GMP has ranged from a minimum of ₹0 to a maximum of ₹20, as per market experts.

Stay tuned to Emmvee Photovoltaic IPO listing live blog today.

Emmvee Photovoltaic IPO had a fresh issue of shares worth ₹2,143.86 crore and an offer for sale (OFS) of shares valued at ₹756.14 crore by promoters, aggregating the issue size to ₹2,900 crore.

Proceeds from the fresh issue worth a little over ₹1,621 crore will be utilised for repayment or prepayment of loans and interest taken by the company and its key subsidiary, and for general corporate purposes.

Emmvee Photovoltaic market cap stands close to ₹14,600 crore post listing. At the upper band of the IPO price, Emmvee was targeting a valuation of ₹15,000 crore. But a fall in stock price post listing hurt the m-cap a bit.

Emmvee Photovoltaic share price declined nearly 5% after a flat start to listing in trade on Tuesday. On BSE, Emmvee Photovoltaic shares hit a low of ₹206.85 and on NSE of ₹207.

Emmvee Photovoltaic IPO shares listed at par with the issue price of ₹217 on the National Stock Exchange (NSE) and BSE. The listing was in line with expectations, as the GMP signals a flat debut.

Emmvee Photovoltaic IPO shares could list at par with the issue price as signalled by the GMP. Emmvee Photovoltaic share price opened at ₹217 on the BSE and NSE in the pre-open trade.

Bhavik Joshi, Business Head, INVasset PMS, said that Emmvee stands to benefit from India’s renewable manufacturing push. "Still, the cyclical nature of solar pricing and execution risks around expansion warrant a measured approach. Investors with medium- to long-term horizons may consider modest exposure, viewing it as a structural play on India’s energy transition rather than a short-term valuation bet," he said.

Valuations already appear to price in much of this optimism, with a post-issue P/E of ~40x FY25 earnings and ~20x FY26 annualized, making it a fully valued offering, according to Joshi.

The initial share sale of Emmvee Photovoltaic Power Ltd received 97% subscription of the issue size on the final day of bidding on Thursday. The ₹2,900-crore initial public offering (IPO) got bids for 7,50,44,538 shares against 7,74,27,183 shares on offer, translating to 97 per cent subscription, as per the data available on the NSE.

The part for qualified institutional buyers fetched 1.26 times subscription, while the portion for retail individual investors was subscribed 1.10 times. The category for non-institutional investors subscribed 30 per cent.

Emmvee Photovoltaic’s IPO grey market premium (GMP) stood at ₹0 today, indicating that the shares were trading at their issue price of ₹217 with no premium or discount in the grey market, according to Investorgain.com.

Over the last 13 sessions, grey market activity has shown a downward trend, and analysts expect the GMP to decline further. During this period, the GMP has ranged from a minimum of ₹0 to a maximum of ₹20, as per market experts.

According to a notice from BSE, Trading Members of the Exchange are notified that starting Tuesday, November 18, 2025, the equity shares of Emmvee Photovoltaic Ltd will be listed and permitted for trading on the Exchange within the 'B' Group of Securities.

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