Bookbuilding IPO | ₹828 Cr | Listed at BSE, NSE
Fujiyama Power Systems IPO is a book build issue of ₹828.00 crores. The issue is a combination of fresh issue of 2.63 crore shares aggregating to ₹600.00 crores and offer for sale of 1.00 crore shares aggregating to ₹228.00 crores.
Fujiyama Power Systems IPO bidding started from Nov 13, 2025 and ended on Nov 17, 2025. The allotment for Fujiyama Power Systems IPO was finalized on Nov 18, 2025. The shares got listed on BSE, NSE on Nov 20, 2025.
Fujiyama Power Systems IPO price band is set at ₹228 per share. The lot size for an application is 65. The minimum amount of investment required by an retail is ₹14,820 (65 shares) (based on upper price). The lot size investment for sNII is 14 lots (910 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (4,420 shares), amounting to ₹10,07,760.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Fujiyama Power Systems IPO RHP for detailed Information.
IPO Open
Thu, Nov 13, 2025
IPO Close
Mon, Nov 17, 2025
Issue Price
₹228 per share
Market Cap (Pre-IPO)
₹6,986.17 Cr
| IPO Date | 13 to 17 Nov, 2025 |
| Listed on | Thu, Nov 20, 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹216 to ₹228 |
| Issue Price | ₹228 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital & OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,63,15,789 shares (agg. up to ₹828 Cr) |
| Fresh Issue | 2,63,15,789 shares (agg. up to ₹600 Cr) |
| Offer for Sale | 1,00,00,000 shares of ₹1 (agg. up to ₹228 Cr) |
| Share Holding Pre Issue | 28,00,95,145 shares |
| Share Holding Post Issue | 30,64,10,934 shares |
| BSE Script Code / NSE Symbol | 544613 / UTLSOLAR |
| ISIN | INE12UR01024 |
Fujiyama Power Systems IPO offers total 3,63,15,789 shares. Out of which 1,80,48,245 (49.70%) allocated to QIB, 72,19,298 (19.88%) allocated to QIB (Ex- Anchor), 54,14,474 (14.91%) allocated to NII 1,26,33,772 (34.79%) allocated to RII and 1,08,28,947 (29.82%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| 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%) |
Investors can bid for a minimum of 65 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| 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 |
Fujiyama Power Systems IPO raises ₹246.90 crore from anchor investors. Fujiyama Power Systems IPO Anchor bid date is November 12, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 12, 2025 |
| Shares Offered | 1,08,28,947 |
| Anchor Portion (₹ Cr.) | 246.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Dec 17, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Feb 15, 2026 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
Fujiyama Power Systems Ltd.'s revenue increased by 67% and profit after tax (PAT) rose by 245% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,243.88 | 1,013.96 | 609.64 | 514.56 |
| Total Income | 597.79 | 1,550.09 | 927.20 | 665.33 |
| Profit After Tax | 67.59 | 156.34 | 45.30 | 24.37 |
| EBITDA | 105.89 | 248.52 | 98.64 | 51.60 |
| NET Worth | 464.34 | 396.82 | 239.54 | 193.08 |
| Reserves and Surplus | 436.33 | 368.81 | 215.00 | 70.55 |
| Total Borrowing | 432.83 | 346.22 | 200.19 | 211.14 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 39.40% |
| ROCE | 41.01% |
| Debt/Equity | 0.87 |
| RoNW | 39.40% |
| PAT Margin | 10.15% |
| EBITDA Margin | 16.13% |
| Price to Book Value | 16.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.58 | 8.82 |
| P/E (x) | 40.85 | 25.84 |
| Promoter Holding | 99.67% | 87.88% |
| Market Cap | ₹6,986.17 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission) | 24.43 |
| 2 | Commission/processing fee for SCSBs and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by RIBs using UPBrokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.06 |
| 3 | Fees payable to the Registrar to the Offer | 0.04 |
| 4 | Fees payable to others | 1.52 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expense | 6.27 |
| 6 | Printing and stationery | 0.94 |
| 7 | Advertising and marketing expenses for the Offer | 2.70 |
| 8 | Fee payable to legal counsels | 5.96 |
| 9 | Miscellaneous | 1.19 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹228.00 | ₹228.00 |
| Open | ₹218.40 | ₹220.00 |
| Low | ₹205.35 | ₹205.25 |
| High | ₹231.00 | ₹230.99 |
| Last Trade | ₹208.35 | ₹208.44 |
Lead Manager Reports
Fujiyama Power Systems IPO is a main-board IPO of 3,63,15,789 equity shares of the face value of ₹1 aggregating up to ₹828 Crores. The issue is priced at ₹228 per share. The minimum order quantity is 65.
The IPO opens on Thu, Nov 13, 2025, and closes on Mon, Nov 17, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Fujiyama Power Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Fujiyama Power Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Fujiyama Power Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Fujiyama Power Systems IPO opens on Thu, Nov 13, 2025 and closes on Mon, Nov 17, 2025.
Fujiyama Power Systems IPO lot size is 65, and the minimum amount required for application is ₹14,820.
You can apply in Fujiyama Power Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Fujiyama Power Systems IPO will be done on Tuesday, November 18, 2025, and the allotted shares will be credited to your demat account by Wed, Nov 19, 2025. Check the Fujiyama Power Systems IPO allotment status.
The Fujiyama Power Systems IPO listing date is on Thu, Nov 20, 2025.
