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Institutional participation is the heartbeat of Indian equity markets. The buying and selling behaviour of Foreign Institutional Investors (FIIs/FPIs) and Domestic Institutional Investors (DIIs) often sets the short-term direction for indices like Nifty 50 and Sensex.
On 10 February 2026, the data revealed an interesting tug of war. Domestic institutions once again played the role of shock absorbers, while foreign investors remained slightly on the back foot.
When exchange-combined data of NSE, BSE and MSEI is considered, DIIs remained net buyers by over ₹1,174 crore, while FIIs showed marginal positive flows of ₹69 crore. This divergence highlights how domestic money is increasingly driving Indian markets.
Indian markets in recent years have matured beyond being completely dependent on foreign capital. Systematic Investment Plans, insurance inflows and pension funds have created a powerful domestic liquidity engine.
However, FII behaviour still impacts:
A day of FII selling does not automatically signal a bearish trend. What matters is the consistency of flows. The current pattern shows selective profit booking by FIIs rather than an exit.
The strong DII numbers reflect confidence among mutual funds, banks and insurance companies. Several factors are supporting domestic participation:
This domestic cushion often prevents sharp corrections even when global cues are weak.
Foreign investors evaluate India alongside global opportunities. A few triggers may explain the mild selling bias:
Importantly, the selling was not aggressive, which suggests FIIs are in observation mode rather than panic mode.
For individual traders and investors, such mixed institutional data calls for a balanced approach.
Markets tend to reward discipline more than prediction.
SEBI’s stringent disclosure norms for FPIs and mutual funds ensure transparency in reporting daily flows. Real-time availability of this data on exchanges helps investors make informed decisions.
India’s robust settlement systems, T+1 cycle and improved risk management have further increased trust among global participants.
At Swastika Investmart, investors get access to:
Understanding FII/DII data becomes actionable when combined with strong research and timely execution.
👉Start your investing journey today
1. What is the difference between FII and DII?
FIIs are overseas institutions investing in Indian markets, while DIIs include domestic mutual funds, insurance companies and banks investing within India.
2. Does FII selling always crash the market?
No. If DIIs absorb the selling and fundamentals remain strong, markets can stay stable or even rise.
3. Where can I check daily FII DII data?
Exchanges like NSE and BSE publish official figures after market hours for complete transparency.
4. Which segment is considered for this data?
The figures refer to the Capital Market cash segment across NSE, BSE and MSEI.
5. How should beginners use this information?
Use it as a sentiment indicator, not as the sole reason to buy or sell a stock.
The trading activity of 10 February 2026 clearly shows the growing strength of domestic investors in India. While FIIs remain important, the market is no longer hostage to their decisions alone.
For long-term investors, such phases create opportunities to focus on quality businesses rather than daily noise. With the right research partner and disciplined approach, institutional data can become a powerful edge.
Invest smart, stay informed, and let Swastika Investmart be your guide in India’s growth story.
India’s consumer price index (CPI) inflation tumbled to 0.25% year-on-year in October 2025, marking a historic low since the current series began in 2012. This dramatic decline has surprised both economists and policymakers.
The primary driver? A steep fall in food prices — vegetable and pulses prices dropped by more than 25% year-on-year, while edible oils and cereals saw broad moderation. The government’s supply-side interventions, better monsoon output, and easing global commodity prices all contributed to this cooling trend.
At the same time, core inflation (excluding food and fuel) held around 4.2–4.4%, indicating that services and housing costs remain sticky. This divergence makes the RBI’s next move more complex than the headline number might suggest.
The Reserve Bank of India (RBI) has maintained its repo rate at 5.50% since June 2024, adopting a “wait and watch” stance as inflation steadily declined from its 4–6% corridor.
Now, with CPI far below the RBI’s lower tolerance limit (2%), the pressure is mounting for a rate cut in the upcoming December 2025 Monetary Policy Committee (MPC) meeting.
So, while the probability of a rate cut is high, it’s not guaranteed.
The markets have already started reacting to the inflation surprise. Let’s break down how different asset classes might behave if the RBI does move to ease policy.
Low inflation and potential rate cuts generally support stock valuations, as lower interest rates reduce the cost of capital.
Bond yields have already started falling in anticipation of a rate cut. A 25–50 bps repo rate reduction could boost long-duration bond prices significantly.
Investors with exposure to gilt funds or long-term debt funds may gain in the near term.
A softer interest-rate environment could lead to a mild rupee depreciation, especially if global investors chase higher yields elsewhere. However, strong foreign inflows into Indian equities might offset this effect.
If the repo rate is cut, EMIs on home, auto, and personal loans could decline marginally, boosting disposable income. Lower borrowing costs could also reignite demand in consumer goods and real estate.
This isn’t the first time India has faced ultra-low inflation. In 2018, CPI briefly dipped below 3%, prompting an accommodative shift by the RBI in early 2019. However, that easing cycle was short-lived when food and fuel inflation resurfaced.
The takeaway? One low print doesn’t make a trend. Investors should track inflation momentum over the next 2–3 months before making aggressive portfolio changes.
Moreover, this CPI crash also reflects a base effect and food deflation, not necessarily a structural moderation in core prices. Hence, the central bank will aim to ensure that inflation remains sustainably within its 4% midpoint target before loosening too much.
India’s GDP growth remains robust at around 6.8% (FY25 projection), supported by strong infrastructure spending and recovering private consumption. Yet, rural demand and export performance are uneven.
Thus, if the RBI does choose to cut rates, it would likely be a calibrated move—aimed at supporting growth while ensuring inflation expectations stay anchored.
Globally, too, the monetary landscape is shifting. The US Federal Reserve and European Central Bank have both paused rate hikes, with markets betting on cuts in early 2026. India’s moderation aligns with this global trend, potentially enhancing capital inflows.
Q1. Why did India’s CPI inflation fall to 0.25%?
Mainly due to a steep fall in food prices and favourable base effects from last year’s high inflation readings.
Q2. Will the RBI definitely cut rates in December?
Not necessarily. While odds of a rate cut are high, the RBI will evaluate growth data, core inflation, and global developments before deciding.
Q3. How does low inflation impact investors?
It generally boosts equity and bond markets by reducing borrowing costs, but may also signal weak demand if sustained too long.
Q4. Which sectors benefit most from a rate cut?
Banks, autos, real estate, and capital-intensive sectors tend to gain from lower rates.
Q5. How can I prepare my portfolio for this changing environment?
Diversify investments, focus on quality stocks, and consider fixed-income exposure. Consulting with Swastika Investmart’s research team can help tailor your strategy.
India’s CPI falling to 0.25% is a landmark moment — one that could reshape the country’s monetary outlook. The dramatic disinflation gives the RBI breathing room to support growth, but the December MPC decision is not a foregone conclusion.
For investors, this environment presents both opportunity and caution. Lower rates could buoy markets, yet sustained disinflation might also signal slower demand.
Whether you’re a seasoned investor or just starting out, staying informed and strategic is key.
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Capillary Technologies India Ltd, a Bengaluru-based SaaS company, is tapping the primary market with its IPO worth ₹877.5 crore. The issue comprises a fresh issue of ₹345 crore and an offer for sale (OFS) of ₹532.5 crore by existing shareholders.
The IPO will open for subscription on November 14, 2025, and close on November 18, 2025. Shares are proposed to be listed on both BSE and NSE.
Price Band: ₹549 – ₹577
Issue Size: ₹877.5 Cr
Fresh Issue: ₹345 Cr
Offer for Sale (OFS): ₹532.5 Cr
Lot Size: 25 shares
Face Value: ₹2
Listing Date: November 21, 2025
Market Cap (Post-Issue): ₹4,576.09 Cr
Swastika Rating: Avoid
Founded in India, Capillary Technologies is a global SaaS player specializing in AI-based loyalty and customer engagement solutions. Its product suite includes:
The company serves over 410 brands across 47 countries, particularly in retail, BFSI, and hospitality sectors.
After two years of losses, Capillary turned profitable in FY25, posting a net profit of ₹14.15 crore. However, profitability remains modest, and the company’s valuation at nearly 299× P/E raises red flags for conservative investors.
✅ Market Leadership in Loyalty SaaS: Among Asia’s top loyalty and engagement solution providers.
✅ AI-Driven Personalization: Strong analytics capabilities improve brand–customer relationships.
✅ Global Reach: Presence in over 47 countries, with focus on retail and BFSI.
✅ Experienced Management: Deep domain expertise in enterprise technology and SaaS scalability.
⚠️ Aggressive Valuation: At nearly 299× earnings, the IPO appears significantly overvalued versus global peers like Salesforce (P/E ~40) and Adobe (P/E ~29).
⚠️ High OFS Component: Over 60% of the issue is Offer for Sale, meaning limited fresh capital infusion for business growth.
⚠️ Client Concentration: Heavy dependence on a few large enterprise clients could impact revenue stability.
⚠️ Tech Disruption Risk: Operating in a fast-evolving SaaS space demands continuous innovation and R&D spending.
⚠️ Global Competition: Faces stiff competition from Salesforce, Adobe, HubSpot, and others in international markets.
While Capillary Technologies has achieved a turnaround by reporting profits in FY25, the valuation premium is difficult to justify. With a modest 2.76% ROCE and limited domestic comparables, the IPO is priced much higher than global peers with stronger margins and balance sheets.
Swastika Investmart’s Outlook:
Given the aggressive pricing, high OFS component, and limited profitability track record, Swastika recommends Avoid for long-term investors. Short-term listing gains, if any, could be limited due to stretched valuations.
The IPO arrives at a time when India’s SaaS sector is gaining momentum globally, driven by demand for digital transformation and loyalty solutions. While this offers a long-term structural tailwind, investor appetite remains selective—focusing on companies with consistent profitability and scalable margins.
For instance, past SaaS listings like Freshworks witnessed post-listing volatility despite global brand presence—highlighting how profitability remains the key valuation driver.
If you are a risk-averse or conservative investor, this IPO might not fit your profile. The company’s profitability turnaround is still nascent, and with a major OFS, the proceeds largely benefit existing shareholders.
However, if you have a high-risk appetite and long-term faith in India’s SaaS growth, you may consider tracking the stock post-listing for potential entry opportunities at lower valuations.
Q1. What are the Capillary Technologies IPO dates?
The IPO opens on November 14, 2025, and closes on November 18, 2025.
Q2. What is the IPO price band and lot size?
The price band is ₹549–₹577 per share, and the lot size is 25 shares.
Q3. What is Swastika Investmart’s recommendation on the Capillary Technologies IPO?
Swastika has rated the IPO as Avoid due to its high valuation and limited profit history.
Q4. How does Capillary compare with global peers like Salesforce or Adobe?
Capillary’s P/E ratio (~299×) is far higher than global SaaS leaders like Salesforce (40×) or Adobe (29×), making it relatively overvalued.
Q5. What will Capillary use its IPO proceeds for?
Funds will go toward product R&D, cloud infrastructure, and system upgrades.
Capillary Technologies has demonstrated operational turnaround and solid market positioning in the loyalty SaaS segment. However, valuation comfort remains a concern, making the IPO suitable only for investors with high-risk tolerance.
For investors seeking balanced and research-driven decisions, Swastika Investmart offers SEBI-registered advisory, advanced research tools, and 24×7 support to help you navigate India’s IPO and equity landscape confidently.

The IPO market is heating up again with two buzzing issues — Tenneco Clean Air India and Fujiyama Power Systems Limited. Both cater to India’s clean-tech evolution but in distinct ways: one ensures cleaner automobile emissions, while the other powers homes and EVs through renewable energy.
For investors deciding where to park funds this week, here’s an expert comparison backed by Swastika Investmart’s research insights.
Fujiyama Power Systems Ltd., part of the UTL Group, manufactures solar panels, inverters, lithium-ion batteries, and hybrid rooftop systems. With operations spanning Greater Noida, Parwanoo, Bawal, and Dadri, the company has built a strong domestic and export presence.
IPO Details
Objects of the Issue
Business Strengths
Key Risks
Analyst View:
Fujiyama’s growth trajectory is impressive, supported by a strong brand network and rising solar adoption. However, at a P/E of ~40×, the issue appears fully priced. While long-term investors may find value in its clean-energy positioning, listing-gain seekers should temper expectations.
Tenneco Clean Air India, a subsidiary of the US-based Tenneco Inc., is a leading manufacturer of automotive emission control and after-treatment systems. It supplies to OEMs like Tata Motors, Ashok Leyland, and Hyundai.
Highlights (as per industry sources)
Analyst Outlook:
Tenneco Clean Air offers steady growth and technological credibility in the auto component space. While its OFS-based IPO won’t fund new projects, investors seeking stability and diversified auto exposure may find it appealing.
Both IPOs reflect India’s transition toward clean and sustainable technologies.
Swastika Investmart’s Verdict: Neutral on Fujiyama; Positive on Tenneco for long-term holders.
As markets continue to reward quality IPOs, investors should evaluate sectoral trends, fundamentals, and valuation comfort before subscribing. Platforms like Swastika Investmart offer registered research, AI-enabled screeners, and dedicated support to help you make informed decisions.
1. What is the Fujiyama Power Systems IPO price band and size?
It is priced at ₹216 – ₹228 per share with a total issue size of ₹828 crore (₹600 crore fresh + ₹228 crore OFS).
2. What is Swastika Investmart’s rating for the Fujiyama IPO?
Swastika Investmart has assigned a Neutral rating, citing robust growth but fully priced valuations.
3. What is the listing date for Fujiyama Power Systems?
The shares are scheduled to list on 20 November 2025 on BSE and NSE.
4. Which IPO is better — Fujiyama or Tenneco?
Tenneco offers steady auto sector exposure; Fujiyama offers high growth in clean energy with higher risk. Choice depends on your investment horizon and risk profile.
5. How can investors apply for these IPOs?
You can apply through your Swastika Investmart trading account online using UPI or net-banking.
The Indian IT sector woke up to yet another bullish day on Dalal Street, thanks to a surprising — yet market-moving — comment from former US President Donald Trump. His latest statement on H-1B visas, often a politically charged topic in US elections, struck an unexpectedly positive tone, driving optimism across Indian technology stocks.
For investors tracking global cues, this development is more than just a one-day headline. It reflects the deep-rooted link between India’s IT talent pool and US immigration policy — a connection that can move billions in market capitalization within hours.
The H-1B visa program allows US employers to hire skilled foreign workers, especially in fields like technology, engineering, and data science. Over 70% of all H-1B visas are issued to Indians, primarily employed by giants such as Infosys, TCS, Wipro, and HCL Technologies.
Historically, every shift in US visa policy has had a direct impact on the valuation of Indian IT companies. A pro-immigration comment from a potential US leader signals easier access to skilled labor and project continuity — both crucial for maintaining margins and overseas client trust.
Trump’s recent comments, perceived as more "pro-skilled-worker", have therefore come as a relief to an industry that thrives on cross-border collaboration.
Following Trump’s remarks, the Nifty IT Index surged over 2%, with Infosys leading the pack, rising nearly 3.5% intraday. TCS, Wipro, and Tech Mahindra also traded with strong momentum.
This rally comes after a few subdued weeks marked by global macro uncertainties and weak discretionary IT spending. Traders and long-term investors alike cheered the prospect of smoother visa policies — a potential catalyst for stronger earnings visibility in FY26.
“A positive H-1B narrative ahead of the US elections can significantly reduce operational bottlenecks for Indian IT majors,” noted a Swastika Investmart research analyst. “This sentiment-driven upmove could sustain if backed by solid quarterly performance and hiring recovery.”
Every US election season brings volatility to Indian IT counters — but this time, markets appear more optimistic. With AI-led transformation, cloud migration, and cybersecurity spending rising, Indian firms are better positioned than ever to leverage global digital demand.
If Trump’s tone on H-1B visas remains consistent, analysts expect a multi-quarter re-rating in the IT space. Sectors like staffing, consulting, and tech services catering to US clients could see improved billing rates and contract stability.
However, investors should remain cautious. Political rhetoric often shifts post-election, and visa reforms can take years to materialize. Regulatory frameworks from both the US Department of Labor and USCIS continue to evolve, impacting project mobility.
Here’s how Indian investors can interpret this trend:
For investors looking to build or rebalance their portfolios, this could be an opportune time to evaluate IT sector exposure. Swastika Investmart’s in-house sectoral research tools and AI-driven analysis dashboards can help identify undervalued opportunities and manage entry-exit timing effectively.
This rally underlines how policy-sensitive the Indian IT landscape remains — and how quickly sentiment can shift when global cues turn favorable.
1. Why did Indian IT stocks rise after Donald Trump’s H-1B visa comments?
Because Trump’s statement hinted at a more positive stance on skilled immigration, which directly benefits Indian IT companies reliant on US-based projects.
2. What is the H-1B visa, and why is it important for India?
It’s a US visa category allowing companies to employ foreign professionals in specialty occupations — with Indians making up the largest share of recipients.
3. Will this rally in IT stocks sustain?
Sustainability depends on upcoming quarterly results, US election outcomes, and clarity on visa reforms. Investors should track both macro and company-specific developments.
4. How can Indian investors benefit from this trend?
By analyzing IT sector fundamentals and diversifying holdings with expert guidance, such as that available on Swastika Investmart’s platform.
5. What risks remain despite Trump’s positive remarks?
US political uncertainty, fluctuating visa quotas, and macroeconomic slowdown could still weigh on sentiment in the medium term.
Trump’s unexpected pivot on the H-1B visa issue has once again highlighted how global politics can move Indian markets — especially IT stocks. While optimism is warranted, prudent investing remains key.
With Swastika Investmart, investors can access comprehensive research reports, AI-powered screening tools, and expert guidance to make informed portfolio decisions in fast-changing markets.

Tenneco Clean Air India Ltd. is the Indian subsidiary of Tenneco Inc., a US-based global leader in automotive clean air and powertrain solutions.
The company designs and manufactures emission-control systems used in passenger vehicles (PVs), commercial trucks (CVs), off-highway vehicles (OHVs), and industrial applications.
It forms part of Tenneco’s Clean Air division, which focuses on helping global OEMs meet evolving BS-VI and emission-compliance norms—a growing regulatory priority in India’s auto ecosystem.
With manufacturing facilities spread strategically across India, Tenneco Clean Air India supplies to top OEMs and is becoming an export hub for the parent’s global operations.
| ISSUE OFFER | |
|---|---|
| Issue Opens on | NOV 12, 2025 |
| Issue Closes on | NOV 14, 2025 |
| Total IPO size (₹ Cr) | ₹ 3,600 crore |
| Fresh Issue (₹ Cr) | - |
| Offer For Sale (₹ Cr) | ₹ 3,600 crore |
| Price Band (₹) | ₹ 378 – 397 |
| Market Lot | 37 |
| Face Value (₹) | 10 |
| Listing At | BSE, NSE |
| Market Capitalization (₹ Cr) | ₹ 16,023.09 crore |
The IPO is entirely an Offer for Sale, so the company won’t receive fresh capital; proceeds go to selling shareholders.
Despite a slight revenue dip in FY25, profitability strengthened sharply—EBITDA margin rose by over 550 bps YoY, signaling improved cost management and product-mix optimization.
The company’s return on capital employed (ROCE) of 56.78% underscores efficient asset utilization—a clear positive compared with several peers in the auto-component space.
At a P/E of ~29× (pre-IPO), the valuation appears moderate—lower than premium peers like Bosch or Timken, but higher than Sharda Motor Industries. Considering consistent profit growth and strong balance sheet, the pricing seems fair but not deeply undervalued.
✅ Strong R&D and Technology Edge – backed by the global Tenneco Group’s expertise in emission-control systems.
✅ Established Client Base – top OEMs in PV, CV, and OHV categories; longstanding relationships ensure revenue visibility.
✅ Operational Efficiency – strategically located plants enable cost-effective manufacturing and logistics.
✅ Consistent Profitability – steady growth in net profit and cash flows over FY23–FY25.
✅ “Make in India” Advantage – positioning as an export hub enhances competitiveness and localization benefits.
⚠️ High Customer Concentration: Top 10 clients contribute ~80% of total sales.
⚠️ Dependence on Auto Sector Cyclicality: Heavy reliance on PV & CV segments (~80% of revenue).
⚠️ Transition to EVs: Could reduce long-term demand for traditional exhaust systems.
⚠️ No Fresh Issue: Being a pure OFS, company won’t gain new funds for expansion or debt reduction.
Swastika Investmart assigns a “Neutral” rating to the IPO.
Overall, the IPO looks moderately priced with a balanced risk-reward profile.
India’s push toward cleaner mobility and stricter BS-VI emission norms is reshaping the auto-component landscape.
Global Tier-I suppliers like Tenneco are expected to benefit as OEMs transition toward hybrid and low-emission vehicles, creating sustained demand for advanced exhaust after-treatment systems.
However, the accelerating EV adoption curve means that over the long term, companies like Tenneco will need to diversify into EV-compatible thermal and filtration systems to maintain growth momentum.
1️⃣ What is the Tenneco Clean Air India IPO price band?
₹378–₹397 per share.
2️⃣ Is there a fresh issue component?
No, the IPO is entirely an Offer for Sale by existing shareholders.
3️⃣ When will the shares list?
Listing is expected on Nov 19, 2025 on both BSE and NSE.
4️⃣ What is Swastika’s recommendation?
Swastika Investmart gives a Neutral rating—strong fundamentals but limited near-term upside.
5️⃣ How can I apply for this IPO easily?
You can apply online via your broker or Demat account; alternatively, open an account with Swastika Investmart for seamless IPO investing.
Tenneco Clean Air India Ltd. brings to the market a solid automotive legacy, backed by global technology and Indian operational strength. While profitability has improved, investors should weigh the lack of fresh capital and auto-sector cyclicality before subscribing.
If you’re an investor seeking diversified exposure to India’s manufacturing and clean-tech auto themes, it’s worth tracking—but allocate selectively.
💼 Invest smart with Swastika Investmart – a SEBI-registered broker known for robust research, reliable support, and tech-driven platforms for IPOs, mutual funds, and stock trading.
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As India accelerates its renewable energy mission, Emmvee Photovoltaic Power Ltd. (EPPL) is shining bright on investor radars.
Founded in Bengaluru, the company has evolved into one of India’s largest integrated solar PV module and cell manufacturers, contributing to the nation’s clean energy ambitions.
Now, with its IPO opening on November 11, 2025, Emmvee Photovoltaic is looking to raise capital to strengthen its balance sheet and fuel expansion. The big question — is this IPO a golden opportunity or just another overheated offer?
Let’s break it down.
Emmvee Photovoltaic Power Ltd. is an integrated solar energy manufacturer involved in:
As of May 2025, the company operates with:
Emmvee serves both domestic and international clients, contributing to India’s solar export ecosystem.
| ISSUE OFFER | |
|---|---|
| Issue Opens on | NOV 11, 2025 |
| Issue Closes on | NOV 13, 2025 |
| Total IPO size (₹ Cr) | ₹ 2,900.00 crore |
| Fresh Issue (₹ Cr) | ₹ 2,143.86 crore |
| Offer For Sale (₹ Cr) | ₹ 756.14 crore |
| Price Band (₹) | ₹ 206 – 217 |
| Market Lot | 69 |
| Face Value (₹) | 2 |
| Listing At | BSE, NSE |
| Market Capitalization (₹ Cr) | ₹ 15,023.89 crore |
Objects of the Issue:
Revenue has tripled in two years, while margins have expanded impressively from 9.1% to 30.9%.
This performance highlights strong execution and benefits from India’s booming solar manufacturing ecosystem under PLI (Production-Linked Incentive) and “Make in India” schemes.
At a P/E of 34.9× and EPS of ₹6.22, Emmvee’s valuation is moderately priced compared with listed peers like Websol Energy (33.8×) and Saatvik Green Energy (27.5×).
Swastika Investmart’s outlook remains positive, citing:
However, it’s worth noting that the company is heavily reliant on IPO proceeds for debt reduction and capacity expansion. Any delay in scaling operations to its targeted 16.3 GW module capacity by FY28 could affect margins.
✅ Second-largest integrated solar PV manufacturer in India
✅ Early mover in TOPCon cell technology
✅ Rapid revenue and profit growth trajectory
✅ Advanced, automated manufacturing facilities
✅ Backed by strong promoter-led management and a large order book
⚠️ Dependence on government incentives and policies (solar subsidies, PLI)
⚠️ Execution risk in scaling up manufacturing capacity
⚠️ Heavy reliance on IPO proceeds for debt repayment
⚠️ Global competition from Chinese solar giants
⚠️ Possible margin pressures amid volatile raw material prices
India is targeting 500 GW of renewable capacity by 2030, and solar power will contribute more than half.
Government initiatives such as PLI Scheme, ALMM compliance, and import duty on Chinese modules are providing a tailwind to domestic players like Emmvee.
In this context, Emmvee stands at the right intersection of policy support and market demand, giving it an edge for long-term investors looking at green energy portfolios.
Swastika Investmart has rated Emmvee Photovoltaic Power Ltd. as SUBSCRIBE, given its strong fundamentals and sector potential.
Why Subscribe:
Caution:
Valuation is slightly elevated, and performance will hinge on successful execution of capacity targets.
1. What is the Emmvee Photovoltaic IPO price band?
The price band is ₹206–₹217 per share.
2. What are the IPO dates?
The IPO opens on November 11, 2025, and closes on November 13, 2025.
3. When will the shares list?
Listing is expected on November 18, 2025, on BSE and NSE.
4. What is the IPO size?
The total issue size is ₹2,900 crore, comprising both a fresh issue and OFS.
5. Should investors apply for this IPO?
Yes, according to Swastika Investmart, this IPO is a “SUBSCRIBE” for medium to long-term investors.
6. How will the IPO funds be used?
Funds will primarily go towards debt repayment and general corporate purposes.
Emmvee Photovoltaic Power Ltd. combines strong fundamentals, robust demand, and a clear growth strategy in one of India’s fastest-growing sectors.
While valuations are slightly stretched, the company’s profitability trajectory and industry momentum justify optimism.
Investor Verdict: A promising long-term play in India’s renewable energy future.


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