FUJIYAMA POWER SYSTEMS IPO: Rs 828 Cr Mega Issue Opens Today! Retail Investors Surge - Will It Be a Blockbuster?

Renewables

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Updated on 13 Nov 2025, 07:28 am

Fujiyama Power Systems has launched its Initial Public Offering (IPO) to raise Rs 828 crore, with the subscription window open from November 13 to November 17. The company has set a price band of Rs 216 to Rs 228 per equity share. On the first day of bidding, the IPO garnered a 5% subscription. The retail individual investor portion was subscribed 9%, while the non-institutional investor quota saw 3% subscription by 12:40 p.m. Prior to the public issue, Fujiyama Power Systems successfully raised Rs 247 crore from anchor investors on November 12. The company plans to utilize the proceeds from the fresh issue. Approximately Rs 180 crore will be allocated for establishing a new manufacturing facility in Ratlam, Madhya Pradesh. Another Rs 275 crore is earmarked for the repayment of outstanding debt, with the remaining funds designated for general corporate purposes. Fujiyama Power Systems is a well-established player in the rooftop solar industry, offering a range of products and integrated solutions under brands like ‘UTL Solar’ and ‘Fujiyama Solar’. With nearly 28 years of industry presence, the company operates three manufacturing units and maintains in-house R&D facilities. Financially, the company reported significant growth, with revenue from operations soaring to Rs 1,540.67 crore in FY25, up from Rs 664.08 crore in FY23. Net profit also saw a substantial increase, reaching Rs 156.33 crore in FY25 compared to Rs 24.36 crore in FY23. Market observers note that shares of Fujiyama Power Systems are trading with a flat premium in the grey market, indicating a cautious initial sentiment. Allotment of shares is expected by November 18, and the listing on stock exchanges is scheduled for November 20.

**Impact** This IPO directly impacts the primary market by introducing a new entity in the renewable energy sector. Successful listing can boost investor confidence in solar companies and the broader green energy space. It also provides capital for Fujiyama Power Systems' expansion, potentially leading to increased production and market share, which could indirectly affect competition and pricing in the solar solutions segment. Rating: 6/10

**Difficult Terms Explained** * **IPO (Initial Public Offering)**: The process by which a private company offers its shares to the public for the first time to raise capital. * **Subscription**: The process where investors indicate their interest in buying shares offered in an IPO by applying for them. * **Retail Individual Investors (RIIs)**: Individual investors who apply for shares worth less than Rs 2 lakh in an IPO. * **Non-Institutional Investors (NIIs)**: Investors who apply for shares worth more than Rs 2 lakh in an IPO, excluding Qualified Institutional Buyers. * **Anchor Investors**: Institutional investors who commit to buying shares before the IPO opens to the public, providing early confidence to the issue. * **Price Band**: The range within which the company has fixed the price per share for its IPO. * **Grey Market Premium (GMP)**: The unofficial premium at which IPO shares are traded before they are listed on the stock exchange. It indicates market sentiment. * **Fresh Issue**: The portion of the IPO where the company issues new shares to raise capital. * **Repayment of Debt**: Using raised funds to pay off existing loans or borrowings. * **General Corporate Purposes**: Funds used for various operational needs of the company that are not specifically allocated to other purposes. * **Rooftop Solar Industry**: The sector focused on installing solar panels on the roofs of buildings for energy generation. * **Revenue from Operations**: The total income generated from the company's primary business activities. * **Net Profit**: The profit remaining after all expenses, including taxes, have been deducted from revenue. * **Listing**: The process of a company's shares being officially traded on a stock exchange.