Emmvee Photovoltaic Power Ltd. share price target

Emmvee Photovoltaic Power Limited ("Emmvee") enters the public markets at a pivotal moment for India’s renewable energy landscape.

IPO NOTE

Emmvee is one of India's leading integrated solar photovoltaic (PV) manufacturers, engaged in producing high-efficiency solar modules and cells. With over 18 years of operational experience, the company ranks as the secondlargest pure-play integrated solar PV module and cell manufacturer in India as of March 31, 2025, with an installed capacity of 7.80 GW for modules and 2.94 GW for solar cells. While the current utilisable capacity is relatively lower due to plant ramp-up phases and ongoing efficiency optimization, the company's management has outlined a clear roadmap to enhance utilization levels over the next few quarters. This aligns with its long-term strategy to expand total...

Company is primarily a solar module manufacturer and are the second largest pure-play integrated solar photovoltaic (PV) module and solar cell manufacturing company and one of the largest solar PV module manufacturers in India, each in terms of production capacity as of March 31, 2025. As of June 30, 2025, company have a solar PV module production capacity of 7.80 GW and a solar cell production capacity of 2.94 GW, with a track record of over 18 years. In addition, company is one of the first...

Emmvee Photovoltaic Power Ltd. (EPPL) is a solar module manufacturer and the 2nd largest pure-play integrated solar photovoltaic (PV) module and solar cell manufacturing company in India. The company has a solar module production capacity of 7.8 GW and a solar cell production capacity of 2.94 GW as of Jun'25. EPPL's product portfolio comprises of bifacial and monofacial formats of TOPCon modules and cells, and bifacial and mono-facial formats of mono passivated emitter and rear contact (Mono PERC) modules. Additionally, the company is included under the Approved List of Models and Manufacturers of Solar Photovoltaic Modules (ALMM) and has a 5.1%...