Overview
- Subscription opens November 11 and closes November 13 with a price band of Rs 206–217 per share and a minimum retail lot of 69 shares.
- The issue totals Rs 2,900 crore, comprising a fresh issue of about Rs 2,143.9 crore and an offer for sale of about Rs 756.1 crore by promoters Manjunatha Donthi Venkatarathnaiah and Shubha Donthi.
- Over Rs 1,621 crore from the fresh issue is earmarked to repay or prepay borrowings and interest, with borrowings near Rs 1,950 crore as of March 2025.
- Anchor book is slated for November 10, allotment for November 14 and listing for November 18, with allocation set at 75% QIB, 15% NII and 10% retail; JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital are lead managers.
- CEO Suhas Donthi said Emmvee plans about $625.75 million in capacity additions to reach 16.3 GW modules and 8.94 GW cells by H1 2028, including 2.5 GW of modules this year, funded roughly 60% by debt and 40% equity with a Rs 33 billion IREDA loan.