Comparison between Emmvee Photovoltaic IPO and Shadowfax Technologies IPO.
Emmvee Photovoltaic IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while Shadowfax Technologies IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.
The total issue size of Emmvee Photovoltaic IPO is up to ₹2,900.00 Cr whereas the issue size of the Shadowfax Technologies IPO is up to ₹1,907.27 Cr. The final issue price of Emmvee Photovoltaic IPO is ₹217.00 per share and of Shadowfax Technologies IPO is ₹124.00 per share.
| Emmvee Photovoltaic IPO | Shadowfax Technologies IPO | |
|---|---|---|
| Face Value | ₹2 per share | ₹10 per share |
| Issue Price (Lower) | ₹206.00 per share | ₹118.00 per share |
| Issue Price (Upper) | ₹217.00 per share | ₹124.00 per share |
| Issue Price (Final) | ₹217.00 per share | ₹124.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 69 shares | 120 shares |
| Fresh Issue Size | 9,87,95,483 shares | 8,06,45,160 shares |
| Fresh Issue Size (Amount) | up to ₹2,143.86 Cr | up to ₹1,000.00 Cr |
| OFS Issue Size | 3,48,45,069 shares | 7,31,66,854 shares |
| OFS Issue Size (Amount) | up to ₹756.14 Cr | up to ₹907.27 Cr |
| Issue Size Total | 13,36,40,552 shares | 15,38,12,014 shares |
| Issue Size Total (Amount) | up to ₹2,900.00 Cr | up to ₹1,907.27 Cr |
Emmvee Photovoltaic IPO opens on Nov 11, 2025, while Shadowfax Technologies IPO opens on Jan 20, 2026. The closing date of Emmvee Photovoltaic IPO and Shadowfax Technologies IPO is Nov 13, 2025, and Jan 22, 2026, respectively.
| Emmvee Photovoltaic IPO | Shadowfax Technologies IPO | |
|---|---|---|
| Anchor Bid Date | Nov 10, 2025 | Jan 19, 2026 |
| Issue Open | Nov 11, 2025 | Jan 20, 2026 |
| Issue Close | Nov 13, 2025 | Jan 22, 2026 |
| Basis Of Allotment (Tentative) | Nov 14, 2025 | Jan 23, 2026 |
| Initiation of Refunds (Tentative) | Nov 17, 2025 | Jan 27, 2026 |
| Credit of Share (Tentative) | Nov 17, 2025 | Jan 27, 2026 |
| Listing date (Tentative) | Nov 18, 2025 | Jan 28, 2026 |
| Anchor Lockin End date 1 | Dec 13, 2025 | Feb 21, 2026 |
| Anchor Lockin End date 2 | Feb 11, 2026 | Apr 22, 2026 |
Emmvee Photovoltaic IPO P/E ratio is 34.9, as compared to Shadowfax Technologies IPO P/E ratio of 1017.96.
| Emmvee Photovoltaic IPO | Shadowfax Technologies IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated Consolidated)Emmvee Photovoltaic Power Ltd.'s revenue increased by 147% and profit after tax (PAT) rose by 1177% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 99.22 | 19.13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 80.03 | 16.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 34.9 | 1017.96 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹15023.89 Cr. | ₹7168.85 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 104.60% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 23.33% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 3.63 | 0.20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.22 | ₹0.12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 69.44% | 0.97 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Emmvee Photovoltaic IPO Retail Individual Investors (RII) are offered 1,33,64,055 shares while in Shadowfax Technologies IPO retail investors are offered 1,33,64,055 shares. Qualified Institutional Buyers (QIB) are offered 4,00,92,166 shares in Emmvee Photovoltaic IPO and 4,60,22,638 shares in Shadowfax Technologies IPO.
| Emmvee Photovoltaic IPO | Shadowfax Technologies IPO | |
|---|---|---|
| Anchor Investor Reservation | 6,01,38,249 shares | 6,90,33,955 shares |
| Market Maker Reservation | 0 shares | 0 shares |
| QIB | 4,00,92,166 shares | 4,60,22,638 shares |
| NII | 2,00,46,082 shares | 2,30,11,318 shares |
| RII | 1,33,64,055 shares | 1,53,40,878 shares |
| Employee | 0 shares | 4,03,225 shares |
| Others | ||
| Total | 13,36,40,552 shares | 15,38,12,014 shares |
Emmvee Photovoltaic IPO subscribed 0.97x in total, whereas Shadowfax Technologies IPO subscribed 2.86x.
| Emmvee Photovoltaic IPO | Shadowfax Technologies IPO | |
|---|---|---|
| QIB (times) | 1.26x | 4.00x |
| NII (times) | 0.30x | 0.88x |
| Big NII (times) | 0.19x | 0.66x |
| Small NII (times) | 0.51x | 1.33x |
| RII (times) | 1.10x | 2.43x |
| Employee (times) | 2.17x | |
| Other (times) | ||
| Total (times) | 0.97x | 2.86x |
