The IPO of MV Photovoltaic is also opening today, November 11. The company’s IPO will remain open till November 13. The IPO of Alakh Pandey’s company Physicswala is also opening today. Compared to Alakh Pandey’s company, MV Photovoltaic’s IPO is performing better in the gray market.
What is the price band?
The price band of MV Photovoltaic’s IPO has been fixed at ₹206 to ₹217 per share. The company has made one lot of 69 shares, meaning investors will have to invest at least ₹14,973. According to Investors Gain, the IPO of MV Photovoltaic is trading at a premium of ₹20 in the gray market today. Today’s GMP indicates that the company could deliver 9.22% returns on its first day. Meanwhile, Physicswala’s IPO is struggling in the gray market. The IPO of the edtech company is available in the gray market at a premium of ₹3, which is not considered a good sign.
What is the size of IPO?
MV Photovoltaic’s IPO is worth ₹2,900 crore. The company will issue 98.8 million new shares through IPO and 34.8 million shares through offer-for-sale. At least 75 per cent of the IPO is reserved for qualified institutional buyers. A maximum of 10 percent will be reserved for retail investors. Maximum 10 percent share will be reserved for NII. JM Financial Limited has been appointed as the lead manager. Kfin Technology Limited has been appointed as the Registrar. This is also a mainboard IPO, so it will be listed on both BSE and NSE.
The company was established in 2007.
MV Photovoltaic was established in 2007. This company manufactures solar PV modules and cells. The company has a manufacturing unit in Bengaluru.
