Fujiyama Power Systems IPO Listing: Fujiyama Power Systems share price made a weak debut in the Indian stock market today, November 20. Fujiyama Power Systems share price was listed on Thursday at ₹220 apiece on NSE, a discount of 3.51% from its issue price of ₹228. Meanwhile, on BSE, it listed at ₹218.40, down 4.21% from issue price.
The Fujiyama Power Systems IPO underperformed Street expectations, as seen from the grey market premium (GMP). The GMP for the IPO stood at ₹0.5 per share, which indicated a likely listing price of around ₹228.5 — translating to a premium of 0.22% over the upper end of the issue price band.
Fujiyama Power Systems IPO Details
Fujiyama Power Systems made a strong debut on the BSE and NSE on November 20, 2025, after successfully concluding its public issue. The IPO opened on November 13 and closed on November 17, with allotments finalised on November 19. The ₹828-crore IPO is priced in the range of ₹216–228 per share. The IPO is a combination of a fresh issue of equity shares worth up to ₹600 crore and an offer for sale of 10 lakh shares, valued at ₹228 crore at the upper end, by promoters.
Investors can apply for the IPO in lots of 65 shares. The minimum amount of investment required by a retail investor is ₹14,820 (65 shares) (based on the upper price).
The company plans to use the fresh proceeds from the initial share sale for part-financing the manufacturing facility in Ratlam, Madhya Pradesh; repayment of certain borrowings by the company; and general corporate purposes.
Motilal Oswal Investment Advisors Ltd. is acting as the book-running lead manager, while MUFG Intime India Pvt. Ltd. is serving as the registrar.
Fujiyama Power IPO was subscribed 2.21 times by the end of Day 3. The retail quota was subscribed 1.05x, while the NII segment saw 92% subscription. The QIB category attracted strong interest with 5.24 times subscription, and the employee quota was booked 1.55 times.
The company also raised ₹246.90 crore from anchor investors ahead of the issue opening, on November 12.
About Fujiyama Power
Founded in 2017, Fujiyama Power Systems Limited manufactures products and provides solutions in the rooftop solar industry, covering on-grid, off-grid, and hybrid solar systems. The company has developed an extensive product portfolio of over 522 SKUs, including solar inverters, panels, and batteries, aimed at reducing customer dependence on alternative OEMs.
The company reaches its customers through an extensive distribution network that includes over 725 distributors, 5,546 dealers, and 1,100 exclusive Shoppe franchisees who are trained to assess customer needs and deliver tailored solar solutions. In addition, more than 602 qualified service engineers support the network by offering technical assistance and maintenance services.
Its product portfolio spans a wide array of offerings such as solar PCUs; off-grid, on-grid, and hybrid inverters; solar panels; PWM chargers; various battery chargers; lithium-ion and tubular batteries; online and offline UPS systems; solar management units; and charge controllers.
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