Overview

• The draft red herring prospectus outlines a fresh issue of ₹2,143.86 crore alongside an offer for sale of ₹856.14 crore by promoters
• ₹1,607.90 crore from the fresh issue will be used to prepay or repay outstanding borrowings and cover general corporate purposes
• A proposed pre-IPO placement may mobilise up to ₹428.77 crore, with the amount to be deducted from the fresh issue if completed
• Emmvee has appointed JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital to manage the IPO process
• India’s solar PV module and cell capacities surged from 21 GW/3.2 GW in March 2022 to 82 GW/23 GW by March 2025, and Emmvee now operates 7.80 GW of module and 2.94 GW of cell capacity