Emmvee Photovoltaic Power Files for INR30 Billion IPO in India

Indian solar photovoltaic modules maker Emmvee Photovoltaic Power has filed for an initial public offering (IPO) with the country's markets regulator, seeking to raise INR30 billion ($351 million). The company plans to sell up to INR21.44 billion of new shares, with founders offering up to INR8.56 billion of shares. Book running lead managers are JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital.