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UTLSOLAR · NSE,BSE · Other Electrical Equipment
Fujiyama Power Systems IPO listed on 20 Nov 2025 on NSE,BSE at ₹220.00, a loss of 3.51% over the issue price of ₹228.00. The IPO was subscribed 2.14x overall.
Fujiyama Power Systems IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 13 Nov 2025 |
| IPO Close Date | 17 Nov 2025 |
| Basis of Allotment | 18 Nov 2025 |
| Initiation of Refunds | 19 Nov 2025 |
| Credit of Shares to Demat | 19 Nov 2025 |
| Listing Date | 20 Nov 2025 |
Listing day gain
-3.51%
Listed at ₹220 (issue ₹228)
Issue
₹228
Listing
₹220
Current
₹208.44
-8.58% vs issue
Day range
₹205.25 – ₹230.99
Issue Size
36,315,789 shares
(aggregating up to ₹828.00 Cr)
Issue Price
₹216 – ₹228
Face Value
₹1/share
Market Lot
65 shares
Retail Min Investment
₹14,820
Listing At
NSE,BSE
Sale Type
both
Fresh Issue
26,315,789 shares
(aggregating up to ₹600 Cr)
Offer for Sale
10,000,000 shares
(aggregating up to ₹228 Cr)
Issue Type
book building
Open Date
13 Nov
Close Date
17 Nov
Allotment
18 Nov
Listing
20 Nov
Last updated: 10 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 20 Nov 2025 Latest | ₹228 | ₹0.5 | ₹228.5 | ₹0.5 |
0.22%
|
12:00 AM |
| 19 Nov 2025 | ₹228 | ₹0.5 | ₹228.5 | ₹0.5 |
0.22%
|
12:00 AM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 20 Nov 2025
| Category | Subscribed (x) |
|---|---|
| QIB | 5.15x |
| NII | 0.88x |
| bNII (bids above ₹10L) | 0.54x |
| sNII (bids below ₹10L) | 1.57x |
| Retail Investors | 1x |
| Employees | 1.47x |
| Total | 2.14x |
Showing the latest subscription snapshot.
View full subscription historyPawan Kumar Garg, Yogesh Dua and Sunil Kumar are the promoters of the company.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,820 |
| Retail (Max) | 13 | 845 | ₹192,660 |
| S-HNI (Min) | 14 | 910 | ₹207,480 |
| S-HNI (Max) | 67 | 4,355 | ₹992,940 |
| B-HNI (Min) | 68 | 4,420 | ₹1,007,760 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only employee | 2 | No |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 18,048,245 (49.70%) |
|
•
Anchor Investor Shares Offered
|
10,828,947 (29.82%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
7,219,298 (19.88%) |
| NII (HNI) Shares Offered | 5,414,474 (14.91%) |
|
•
bNII > ₹10L
|
3,609,649 (9.94%) |
|
•
sNII < ₹10L
|
1,804,825 (4.97%) |
| Retail Shares Offered | 12,633,772 (34.79%) |
| Employee | 219,298 (0.60%) |
| Total Shares Offered | 36,315,789 (100.00%) |
Fujiyama Power Systems Limited was founded in December 2017 and is headquartered in Greater Noida, Uttar Pradesh. It works in the renewable energy sector, manufacturing rooftop solar products and power-backup solutions.
The company manufactures and supplies solar panels, solar inverters, home UPS systems, batteries and lithium-ion batteries, along with chargers and E-rickshaw chargers, across a portfolio of more than 522 SKUs. Its manufacturing facilities are located at Bawal, Haryana and Greater Noida, Uttar Pradesh, with a new facility planned at Ratlam, Madhya Pradesh. It sells largely to retail (B2C) customers through a distribution network of over 725 distributors, 5,546 dealers and 1,100 exclusive "Shoppe" franchisees, supported by more than 600 service engineers, and it also exports to the US and other Asian markets. The promoters are Pawan Kumar Garg and Yogesh Dua.
Revenue rose from Rs 924.7 crore in FY24 to Rs 1,540.7 crore in FY25, with profit after tax of about Rs 156.3 crore in FY25, as per the RHP. The IPO is a mainboard issue of Rs 828 crore on the NSE and BSE, comprising a fresh issue of Rs 600 crore and an offer for sale of Rs 228 crore by the promoters, and it listed in late November 2025. Net proceeds from the fresh issue were earmarked for part-financing the new manufacturing facility at Ratlam (about Rs 180 crore), repayment or prepayment of certain borrowings (about Rs 275 crore), and general corporate purposes.
Standalone · ₹ in Crores
| Particulars | FY Mar 2023 | FY Mar 2024 | FY Jun 2025 |
|---|---|---|---|
| Total Revenue | 665.33 | 927.2 | 597.79 |
| Profit After Tax (PAT) | 24.37 | 45.3 | 67.59 |
| EBITDA | 51.6 | 98.64 | 105.89 |
| Total Assets | 514.56 | 609.64 | 1,243.88 |
| Net Worth | 193.08 | 239.54 | 464.34 |
| Reserves & Surplus | 70.55 | 215 | 436.33 |
| Total Borrowing | 211.14 | 200.19 | 432.83 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2025 |
|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 39.4% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 41.01% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 39.4% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 10.15% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 16.13% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.87x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 16.09x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹5.58 | ₹8.82 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 40.85x | 25.84x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹6,386 Cr | ₹6,387 Cr |
The basis of allotment for Fujiyama Power Systems IPO was finalised on 18 Nov 2025. You can check your allotment status using your PAN number or application number on the MUFG Intime India Pvt.Ltd portal or BSE.
The Fujiyama Power Systems IPO is expected to open in Nov 2025, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Fujiyama Power Systems IPO is ₹216.00 - ₹228.00 per share.
As per market sources, Fujiyama Power Systems IPO GMP is currently ₹0.50. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Fujiyama Power Systems IPO stands at 2.14x overall.
The listing date for Fujiyama Power Systems IPO is 20 Nov 2025.
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