Emmvee Photovoltaic Power Limited, a leading Indian solar module manufacturer and turnkey energy solutions provider, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for a proposed initial public offering (IPO) aggregating up to ₹3,000 crore.

The offering comprises a fresh issue of equity shares, intended to fund expansion, working capital, and general corporate purposes, as Emmvee accelerates growth in the clean energy manufacturing sector.

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Parties Involved

Advisory Teams

Trilegal (Legal Advisor to Emmvee)

Lead counsel to the issuer on all Indian legal aspects of the IPO.

TT&A (Legal Counsel to Bookrunners)

Team advising the BRLMs included:

• Abhinav Kumar – Partner

• Shubham Sancheti – Managing Associate

• Ayana Banerjee – Senior Associate

• Abhishek Iyer, Akshita Sharma, Harsh Shekhar, Pritika Mehrotra – Associates

• Mihika Ambikar – Paralegal

Hogan Lovells (International Counsel to BRLMs)

Team advising on international legal matters:

• Biswajit Chatterjee – Head of India Practice & Managing Partner, Dubai

• Kaustubh George, Varun Jetly – Counsel

• Aditya Rajput – Senior Associate

• Sanjana Ravjiani, Aditya Dsouza – Associates

Key Transaction Highlights

• Marks Emmvee’s debut in the public capital markets amid rising investor interest in India’s clean-tech sector.

• The proceeds from the fresh issue will help the company expand manufacturing capacity, invest in R&D, and scale turnkey solar installations.

• Backed by top-tier Indian and international law firms, the IPO is expected to position Emmvee strongly ahead of India’s green energy surge.

Strategic Significance

The IPO aligns with the Indian government’s goal of achieving 500 GW of non-fossil fuel capacity by 2030, with solar energy expected to play a major role.

As global supply chains de-risk and realign post-pandemic, Emmvee’s vertically integrated operations give it a competitive edge in both domestic and export markets — positioning it as a key contributor to India’s solar manufacturing ambitions under the PLI (Production-Linked Incentive) scheme.

Why It Matters

• Emmvee’s public listing will provide greater capital flexibility to pursue high-value solar EPC and module supply contracts.

• The IPO reflects strong investor appetite for green energy manufacturing, a segment expected to see exponential growth over the next decade.

• The deal’s cross-border legal involvement — including Trilegal, TT&A, and Hogan Lovells — demonstrates the increasing globalisation of India’s energy capital markets.

About the Issuer

Emmvee Photovoltaic Power Limited is a Bangalore-headquartered company focused on manufacturing high-efficiency polycrystalline and monocrystalline solar PV modules, along with offering EPC solutions for utility-scale and rooftop installations.

Its modules are designed for large-scale solar power projects with high conversion efficiency, long durability, and adherence to global quality certifications. Emmvee has built a strong reputation across India, Europe, and emerging markets for delivering reliable green energy solutions.mvee’s ₹3,000 crore IPO filing marks a pivotal moment for India’s solar manufacturing sector. With strong legal backing and a growing market for clean energy solutions, the company is set to leverage its operational expertise to expand into new geographies and product segments — supporting India’s broader green transition goals.

Also read: Kalpataru Limited Files for ₹15.90 Billion IPO — AZB Advises Bookrunners

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Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.