Emmvee Photovoltaic Power has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 3,000 crore through an initial public offering (IPO). The IPO comprises fresh issue of shares worth Rs 2,143.86 crore and an offer for sale (OFS) of shares valued Rs 856.14 crore by promoters.
Proceeds from the fresh issue to the tune of Rs 1,607.90 crore will be utilised for repayment or prepayment of loans and interest taken by the company and its key subsidiary and a portion will be used for a general corporate purposes. JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital Company have been appointed as merchant bankers to manage the IPO.
Emmvee Photovoltaic Power is the leading pure-play integrated solar PV (photovoltaic system) module and solar cell manufacturing company.
