Fujiyama Power Systems IPO
Open MainLineCurrent GMP
₹3 (+1.32%)
Price Band
₹ 216 – 228
Lot Size
65
Issue Size
₹228 Cr
Minimum Investment
₹14820 (65 Shares)
Listing Date
20 November 2025
Subscription
2.14x
About the Company
Fujiyama Power Systems Limited
Overview
Founded in 2017, Fujiyama Power Systems Limited is a leading manufacturer and solutions provider in the rooftop solar energy sector, offering comprehensive on-grid, off-grid, and hybrid solar systems. The company’s mission is to empower customers with reliable and sustainable solar energy solutions while reducing dependence on third-party OEMs.
Product Portfolio
Fujiyama has developed an extensive product portfolio comprising over 522 SKUs, including:
- Solar inverters (on-grid, off-grid, and hybrid)
- Solar panels
- Lithium-ion and tubular batteries
- Solar PCUs
- PWM and other battery chargers
- Solar management units (SMUs)
- Charge controllers
- Online and offline UPS systems
This diverse range of products enables the company to deliver end-to-end solar solutions tailored to customer needs.
Distribution and Service Network
The company operates through a robust pan-India distribution network, consisting of:
- 725+ distributors
- 5,546+ dealers
- 1,100+ exclusive “Fujiyama Shoppe” franchise outlets
Each “Shoppe” is managed by trained professionals equipped to understand customer requirements and deliver customized solar solutions. In addition, Fujiyama is supported by a team of over 602 qualified service engineers who provide reliable installation, maintenance, and technical support across the country.
Manufacturing Facilities
Fujiyama Power Systems Limited operates four state-of-the-art manufacturing facilities located in:
- Greater Noida, Uttar Pradesh
- Parwanoo, Himachal Pradesh
- Bawal, Haryana
- Dadri, Uttar Pradesh
All facilities are equipped with advanced production technologies and adhere to the highest international standards of quality and safety.
Certifications
The company’s manufacturing systems are certified under the following international standards:
- ISO 9001:2015 – Quality Management System
- ISO 14001:2015 – Environmental Management System
- ISO 45001:2018 – Occupational Health and Safety Management System
Global Presence
Fujiyama Power Systems has established a growing global footprint, exporting its products to markets including the United States, Bangladesh, the United Arab Emirates, and several other Asian countries.
Promoters
- Pawan Kumar Garg
- Yogesh Dua
- Sunil Kumar
Promoters Holding
Holding Pre Issue
99.67%
Holding Post Issue
0.00%
Objects of the Issue
“The Net Proceeds from the Fresh Issue, i.e., the Gross Proceeds after deducting the portion of Offer expenses attributable to the Company in relation to the Fresh Issue, are proposed to be utilized for the following purposes:”
- Financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India
- Repayment of certain outstanding borrowings availed by our Company
- General Corporate Purposes
Address / Contact Info
Fujiyama Power Systems Ltd.
53A/6, Near NDPL Grid Office,
Near Metro Station
Sat Guru Ram Singh Marg
Delhi, New Delhi, 110015
Phone: +91 1141055305
Email: investor@utlsolarfujiyama.com
Website: https://www.utlsolarfujiyama.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Thursday, 13 November 2025
IPO Close Date
Monday, 17 November 2025
Basis of Allotment
Tuesday, 18 November 2025
Initiation of Refunds
Wednesday, 19 November 2025
Credit of Shares to Demat
Wednesday, 19 November 2025
Listing Date
Thursday, 20 November 2025 — NSE & BSE
Important Dates
Open Date
13 November 2025
Close Date
17 November 2025
Basis Of Allotment
18 November 2025
Listing Date
20 November 2025
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1243.88 | 1013.96 | 609.64 | 514.56 |
| Revenue | 597.79 | 1550.09 | 927.2 | 665.33 |
| Profit After Tax | 67.59 | 156.34 | 45.3 | 24.37 |
| Net Worth | 464.34 | 396.82 | 239.54 | 193.08 |
| Reserve & Surplus | 436.33 | 368.81 | 215 | 70.55 |
| Total Borrowings | 432.83 | 346.22 | 200.19 | 211.14 |
EPS Pre
5.58%
EPS Post
0.00%
P/E Pre
40.85
P/E (Post Issue)
41.01x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 39.4 | 18.91 | 12.62 |
| ROCE % | 41.01 | 26.6 | 16.81 |
| Debt / Equity | 0.87 | 0.84 | 1.09 |
| RoNW % | 39.4 | 18.91 | 12.62 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 10.15 | 4.9 | 3.67 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 7342591 | 27.87 | 0 |
| Non-Institutional | 5631945 | 21.38 | 0 |
| BNII | 3754630 | 14.25 | 0 |
| SNII | 1877315 | 7.13 | 0 |
| Retail Investors | 13141204 | 49.88 | 0 |
| Employees | 231481 | 0.88 | 0 |
| Total | 26347221 | 100 | 0 |
Subscription Status ( Mon, 17 Nov 25 01:55 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 7342591 | 37822200 | 5.15x |
| Non-Institutional | 5631945 | 4978545 | 0.88x |
| BNII | 3754630 | 2028325 | 0.54x |
| SNII | 1877315 | 2950220 | 1.57x |
| Retail Investors | 13141204 | 13185965 | 1x |
| Employees | 231481 | 339885 | 1.47x |
| Total | 26347221 | 56326595 | 2.14x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Fujiyama Power Systems Ltd | 1 | 0.00 | 5.59 | 5.56 | 39.40 | 14.17 |
| Waaree Energie | 10 | 49.04 | 68.24 | 67.96 | 20.09 | 334.00 |
| Premier Energies | 1 | 47.91 | 21.35 | 21.35 | 33.21 | 62.61 |
| Exicom Tele Systems | 10 | 0.00 | -9.11 | -9.11 | -17.93 | 50.80 |
| Insolation Energy | 1 | 31.68 | 5.95 | 5.95 | 20.46 | 28.00 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 65 | 14,820.00 |
| Retail (Max) | 13 | 845 | 192,660.00 |
| S-HNI (Min) | 14 | 910 | 207,480.00 |
| S-HNI (Max) | 67 | 4,355 | 992,940.00 |
| B-HNI (Min) | 68 | 4,420 | 1,007,760.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Motilal Oswal Investment Advisors Pvt Ltd
- SBI Capital Markets Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Fujiyama Power Systems IPO is a Book-building IPO worth ₹228 crores. The price band is ₹216 to 228 per share. The IPO opens on Thu, Nov 13, 2025 and closes on Mon, Nov 17, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Fujiyama Power Systems IPO opens on Thu, Nov 13, 2025 and closes on Mon, Nov 17, 2025
Fujiyama Power Systems IPO Price Band is ₹216 to 228.
Fujiyama Power Systems IPO lot size is 65, and the minimum amount required for application is ₹14820.
The minimum investment for Fujiyama Power Systems IPO is approximately ₹14820 based on the upper price band.
To apply for the Fujiyama Power Systems IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Nov 17, 2025. After submission, funds are blocked until the basis of allotment of Fujiyama Power Systems IPO is finalised.
Fujiyama Power Systems IPO issue size is ₹228 crores.
Fujiyama Power Systems IPO allotment date is Sat, Jun 27, 2026.
The registrar for Fujiyama Power Systems IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Fujiyama Power Systems IPO through their official website or helpline.
The Fujiyama Power Systems IPO GMP (Grey Market Premium) is ₹3 as of Wed, Nov 19, 2025. Based on the upper price band of ₹228 per share, the estimated Fujiyama Power Systems IPO listing price is ₹231, indicating a potential listing gain of approximately 31% over the issue price.