IPO Details
| IPO Date | November 13, 2025 to November 17, 2025 |
| Listing Date | November 20, 2025 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹216 to ₹228 per share |
| Issue Price Final | ₹228 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,63,15,789 shares (aggregating up to ₹828.00 Cr) |
| Fresh Issue | 2,63,15,789 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 1,00,00,000 shares of ₹1 (aggregating up to ₹228.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 28,00,95,145 shares |
| Share Holding Post Issue | 30,64,10,934 shares |
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 5.24 |
| Non-Institutional Buyers | 0.92 |
| bNII (bids above ₹10L) | 0.56 |
| sNII (bids below ₹10L) | 1.63 |
| Retail Investors | 1.05 |
| Employees | 1.55 |
| Total ** | 2.21 |
IPO Important Dates
| IPO Open Date | Thu, Nov 13, 2025 |
| IPO Close Date | Mon, Nov 17, 2025 |
| Tentative Allotment | Tue, Nov 18, 2025 |
| Initiation of Refunds | Wed, Nov 19, 2025 |
| Credit of Shares to Demat | Wed, Nov 19, 2025 |
| Tentative Listing Date | Thu, Nov 20, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 17, 2025 |
IPO Lot Size
| Retail (Min) | 1 | 65 | ₹14,820 |
| Retail (Max) | 13 | 845 | ₹1,92,660 |
| S-HNI (Min) | 14 | 910 | ₹2,07,480 |
| S-HNI (Max) | 67 | 4,355 | ₹9,92,940 |
| B-HNI (Min) | 68 | 4,420 | ₹10,07,760 |
Financial Information
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 1,243.88 | 1,013.96 | 609.64 |
| Total Income | 597.79 | 1,550.09 | 927.20 |
| Profit After Tax | 67.59 | 156.34 | 45.30 |
| EBITDA | 105.89 | 248.52 | 98.64 |
| NET Worth | 464.34 | 396.82 | 239.54 |
| Reserves and Surplus | 436.33 | 368.81 | 215.00 |
| Total Borrowing | 432.83 | 346.22 | 200.19 |
Peers Comparison
| Fujiyama Power Systems Limited | 5.59 | 5.56 | 14.17 | | 39.40 | |
| Waaree energies limited | 68.24 | 67.96 | 334.00 | 49.04 | 20.09 | 9.98 |
| R S premier energies limited | 21.35 | 21.35 | 62.61 | 47.91 | 33.21 | 16.48 |
| Exicom Tele System | -9.11 | -9.11 | 50.80 | | -17.93 | 2.88 |
| Insolation Energy Ltd | 5.95 | 5.95 | 28.00 | 31.68 | 51.20 | 6.71 |
Information about company
Founded in 2017, Fujiyama Power Systems Limited manufactures products and provides solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. The company has designed an extensive product portfolio of over 522 SKUs, including solar inverters, panels, and batteries, to reduce customer reliance on alternative OEMs.
The company serves customers via an extensive distribution network with over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees trained to understand customer needs and supply customized solar systems. Additionally, we have over 602+ qualified service engineers providing maintenance and technical support.
The company offers a wide range of products, including solar PCUs, off-grid, on-grid, and hybrid inverters, solar panels, PWM chargers, other battery chargers, lithium-ion and tubular batteries, online and offline UPS systems, solar management units, and charge controllers.
The company has four manufacturing facilities in Greater Noida, Uttar Pradesh, Parwanoo, Himachal Pradesh, Ba2017wal, Haryana and Dadri, UP.
The company's production systems are certified under ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health and Safety).
The company exports its products to countries such as the USA and several Asian countries, including Bangladesh and the UAE.
Competitive Strength
Quality-centric and precision-driven large-scale manufacturing infrastructure driving production efficiency.
Robust distribution network, and post-sale service capabilities driving strong brand recognition.
Track record of technological development and product innovation.
Diverse solar products establish the company as a leader in the rooftop solar industry.
Experienced Promoters and Senior Management and a committed employee base.
Objectives of IPO
The Company Fujiyama Power Systems IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India
180.00
2
Repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by our Company
275.00
3
General corporate purposes
112.32
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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Day Wise Sub
| Day 1
Nov 13, 2025 | 0.00 | 0.05 | 0.03 | 0.10 | 0.16 | 0.21 | 0.09 |
| Day 2
Nov 14, 2025 | 0.82 | 0.11 | 0.06 | 0.21 | 0.30 | 0.66 | 0.41 |
| Day 3
Nov 17, 2025 | 5.24 | 0.92 | 0.56 | 1.63 | 1.05 | 1.55 | 2.21 |
Day Wise GMP
| 20-11-2025 | 228.00 | 0.5(0.22%) | 228.5 |
| 19-11-2025 | 228.00 | 0.5(0.22%) | 228.5 |
| 18-11-2025 | 228.00 | 3(1.32%) | 231 |
| 17-11-2025 | 228.00 | 1.5(0.66%) | 229.5 |
| 16-11-2025 | 228.00 | 0(0.00%) | 228 |
| 15-11-2025 | 228.00 | 0(0.00%) | 228 |
| 14-11-2025 | 228.00 | 0(0.00%) | 228 |
| 13-11-2025 | 228.00 | 0(0.00%) | 228 |
| 12-11-2025 | 228.00 | 0(0.00%) | 228 |
| 11-11-2025 | 228.00 | 0(0.00%) | 228 |
| 10-11-2025 | 228.00 | 0(0.00%) | 228 |
| 09-11-2025 | | 0(0.00%) | (0.00%) |
| 08-11-2025 | | 0(0.00%) | (0.00%) |
| 07-11-2025 | | 0(%) | (%) |
IPO Reservation
| QIB Shares Offered | 1,80,48,245 (49.70%) | NA |
| − Anchor Investor Shares Offered | 1,08,28,947 (29.82%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 72,19,298 (19.88%) | NA |
| NII (HNI) Shares Offered | 54,14,474 (14.91%) | NA |
| − bNII > ₹10L | 36,09,649 (9.94%) | 3,966 |
| − sNII < ₹10L | 18,04,825 (4.97%) | 1,983 |
| Retail Shares Offered | 1,26,33,772 (34.79%) | 1,94,365 |
| Employee Shares Offered | 2,19,298 (0.60%) | NA |
| Total Shares Offered | 3,63,15,789 (100.00%) | |
