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)
