Fujiyama Power Systems IPO: The initial public offering (IPO) of rooftop solar products manufacturer Fujiyama Power Systems Ltd has entered its second day of bidding process. Fujiyama Power Systems IPO has been witnessing a muted demand from investors.
The public issue opened for subscription on November 13, and will close on November 17. Fujiyama Power Systems IPO allotment date is likely November 18, and the IPO listing date is November 20. Fujiyama Power Systems shares will be listed on BSE and NSE.
The company aims to raise ₹828.00 crore from the book-building issue which is a mix of fresh issue of 2.63 crore equity shares worth ₹600 crore, and an offer-for-sale (OFS) component of 1 crore shares amounting to ₹228 crore. Fujiyama Power Systems IPO price band has been set at ₹216 to ₹228 per share, and the IPO lot size is 65 shares.
The Noida-based firm has already raised ₹246.9 crore from 15 anchor investors on November 12.
The company plans to utilise the net issue proceeds for part financing the cost of establishing the manufacturing facility in Ratlam, repayment or prepayment of all or a portion of certain outstanding borrowings and for general corporate purposes.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the Fujiyama Power Systems IPO registrar.
Fujiyama Power Systems IPO Subscription Status
Fujiyama Power Systems IPO has been subscribed 14% so far, as per NSE data till 1:40 PM on Friday, the second day of the bidding process. The public issue has been booked 24% in the Retail Individual Investors (RIIs) category, and 9% in the Non Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIBs) are yet to bid for the issue.
Fujiyama Power Systems IPO GMP Today
Fujiyama Power Systems shares are commanding no grey market premium (GMP). According to market experts, Fujiyama Power Systems IPO GMP today is ₹0 per share. This indicates that in the grey market, Fujiyama Power Systems shares are trading with no premium or discount to the issue price.
Fujiyama Power Systems IPO GMP today signals that in the grey market, the stock is trading equal to its issue price at ₹228 per share, without any premium or discount.
Fujiyama Power Systems IPO: Should you apply?
Fujiyama Power Systems Ltd. stands out as a comprehensive solar energy player with strong brand equity, nationwide distribution, and integrated manufacturing capabilities. Its patented rMPPT technology, diversified product suite, and continued investment in R&D and capacity expansion (including the upcoming 1 GW monoPERC solar cell facility at Dadri, expected by January 2026) reinforce its scalability and future readiness.
While any delay or inefficiency in commissioning this facility could impact its ability to produce DCR-compliant panels, the company’s fundamentals remain robust.
“At ₹228 (upper price band), valuations — P/E 40.79x and P/B 16.09x — appear fully priced relative to peers (P/E 31.88x; P/B 8.93x). However, given its leadership in off-grid and hybrid solar solutions, strong growth visibility, and alignment with India’s renewable energy expansion, we recommend ‘Subscribe for Long-Term Investment’, Canara Bank Securities said.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
