New Delhi, Nov 18 (PTI) Shares of Emmvee Photovoltaic Power Ltd on Tuesday made a flat market debut, listing at par with the issue price of Rs 217.
The stock listed at Rs 217 on both the BSE and NSE.
Later,
it traded 2.76 per cent lower at Rs 211 on the BSE.
At the NSE, the stock quoted at Rs 211.17, down 2.71 per cent.
The company's market valuation stood at Rs 14,608.48 crore.
The initial share sale of Emmvee Photovoltaic Power Ltd received 97 per cent subscription on the final day of bidding on Thursday last week.
The Rs 2,900-crore initial public offering (IPO) had a price band of Rs 206-217 per share.
The IPO had a fresh issue of shares worth Rs 2,143.86 crore and an offer for sale (OFS) of shares valued at Rs 756.14 crore by promoters, aggregating the issue size to Rs 2,900 crore.
Proceeds from the fresh issue worth a little over Rs 1,621 crore will be utilised for repayment or prepayment of loans and interest taken by the company and its key subsidiary, and for general corporate purposes.
The firm is a leading pure-play integrated solar PV (photovoltaic system) module and solar cell manufacturing company. PTI SUM HVA
