Fujiyama Power IPO allotment date LIVE: Step-by-step guide to check status; GMP trades flat

According to market sources, the grey market premium (GMP) for the Fujiyama Power IPO stands at ₹2 per share as of today, indicating that the shares are likely to make a muted market debut.

Considering the GMP and the IPO’s upper band issue price of ₹228, the stock is expected to debut on the exchange at around ₹230, which indicates a premium of 0.87%. The grey market premium reflects the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market.

However, analysts caution that GMP is only an early indicator and should not be the sole factor in making investment decisions.

Fujiyama Power System Limited, incorporated in 2017, is one of the leading manufacturers and solution providers in the rooftop solar business. According to domestic brokerage firm Anand Rathi, the company is looking to strengthen its processes through backward integration by setting up a DCR cell plant within its solar panel facility.

The brokerage believes the company could be one of the biggest beneficiaries of government initiatives such as the Rooftop Solar Scheme Phase II, PM-KUSUM, PM Surya Ghar–Muft Bijli Yojana, solar park development, and the National Wind-Solar Hybrid Policy.

To meet rising demand, the company plans to expand its presence through a curated distribution model and gradually scale up its UTL Solar Shoppe network to address growing market requirements.

Fujiyama Power IPO allotment date LIVE:

Step 1

Visit the allotment section of the official BSE website - You can check the allotment status for Fujiyama Power IPO online at https://www.bseindia.com/investors/appli_check.aspx.

Step 2

In the dropdown for 'Issue Type', choose 'Equity'.

Step 3

Select the IPO from the 'Issue Name' dropdown list.

Step 4

Enter your PAN or application number.

Step 5

Check the box that says 'I am not a Robot' to confirm your identity, then click on the 'Submit' button.

Fujiyama Power IPO allotment date LIVE:

1. Diversified portfolio of solar products and solutions which distinguishes their Company as a well-rounded leader in the rooftop solar industry.
2. Track record of technological development and product innovation.
3. Robust distribution network, and post-sale service capabilities driving strong brand recognition.
4. Quality-centric and precision-driven large scale manufacturing infrastructure driving production efficiency

Fujiyama Power IPO allotment date LIVE:

Step 1

Go to the website of the IPO registrar, which is Link Intime India Private Ltd. Link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2

From the dropdown menu, pick the IPO, as its name will only show up once the allocation has been finalized.

Step 3

Choose one of the three methods available to check the status: Application No, Demat Account, or PAN.

Step 4

Indicate whether you are using ASBA or non-ASBA for the type of application.

Step 5

Enter the required information based on your selection in Step 3.

Step 6

Finish the captcha and then click on submit.

Fujiyama Power IPO allotment date LIVE: India’s rooftop solar market is expected to grow at a CAGR of 40–43% from FY25 to FY30, supported by favorable policies, rising awareness, and cost reductions in solar equipment. With initiatives like the National Solar Mission and improved energy storage, capacity is projected to rise from ~17 GW in FY25 to 90–100 GW by FY30, aligning with India’s renewable and carbon reduction goals.

1. Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India (the “Project”);
2. Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company; and
3. General corporate purposes

1. The company’s manufacturing operations are exposed to various operational and external risks.
2. Any disruption, shutdown, or unforeseen event affecting existing or future facilities could lead to production delays and lower sales. Such occurrences may adversely impact the company’s business performance, financial condition, and overall operational stability.
3. The company’s manufacturing footprint is geographically concentrated in the Northern region of India, which could increase its concentration risk and, in turn, affect its financial condition, results of operations, and cash flows.
4. The company remains exposed to import-related risks due to its reliance on China for key raw materials and other foreign countries for equipment and machinery. Any changes to trade policies, import restrictions, or higher duties could raise input costs and erode margin stability. Additionally, similar restrictions or tariffs in export markets may affect competitiveness and cash flows.

Fujiyama Power IPO allotment date LIVE: Over the past five years, rooftop solar has become a major driver of global PV capacity growth, with its share rising from 37 GW (36%) in 2018 to 105 GW (~47%) in 2022, reflecting the global shift toward decentralized power generation. In India, rooftop solar capacity is poised for strong growth supported by favourable government policies and rising adoption across residential and C&I segments.

Fujiyama Power IPO allotment date LIVE:

1. Revenue more than doubled from ₹6,641mn in FY23 to ₹15,407mn in FY25.
2. EBITDA grew from ₹516mn in FY23 to ₹2,485mn in FY25; margins up from 7.8% to 16.1%.
3. PAT increased sixfold from ₹244mn in FY23 to ₹1,563mn in FY25; margin rose from 3.7% to 10.2%.
4. ROE and ROCE strengthened to 39.4% and 41.0%, reflecting efficient capital utilization.
5. Healthy balance sheet with moderate debt-to-equity of 0.87x.

Fujiyama Power IPO allotment date LIVE: All products are MNRE, BIS, and SNA certified, enabling participation in government tenders and subsidies. With a 15.5% share in India’s solar battery market, four ISO-certified manufacturing facilities, and a strong distribution and service network, Fujiyama combines operational scale, quality assurance, and technological depth.

Fujiyama Power IPO allotment date LIVE: Fujiyama runs four manufacturing facilities across Greater Noida (U.P.), Parwanoo (H.P.), Bawal (Haryana), and Dadri (U.P.), all certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards. The company also exports to international markets, including the USA, Bangladesh, and the UAE.

Fujiyama Power IPO allotment date LIVE:

1. Expand the manufacturing base for solar panels, inverters and batteries and strengthen back-end integration in solar panels.
2. Further strengthening domestic distribution and retail network and increase export sales.
3. Address market opportunities with a focus on continuously developing more efficient products and using innovative marketing tools and sales strategies, such as actionable influence.

Fujiyama Power IPO allotment date LIVE: Fujiyama Power Systems Limited has built a strong pan-India presence with 725 distributors, 5,546 dealers, 1,100 exclusive ‘UTL Solar Shoppes,’ and 602 service engineers, ensuring wide market reach and superior customer support.

Fujiyama Power IPO allotment date LIVE:

1. Diversified portfolio of solar products and solutions which distinguishes our Company as a well-rounded leader in the rooftop solar industry.
2. Robust distribution network, and post-sale service capabilities driving strong brand recognition.
3. Experienced Promoters and Senior Management and a committed employee base.
4. Robust financial performance and growth.

Fujiyama Power IPO allotment date LIVE:

1. Fujiyama Power Systems Ltd is one of the leading player in India’s rooftop solar industry, manufacturing solar panels, inverters, and batteries. The company has supplied 1.64 GW inverters, leading to 9.6% of India’s rooftop solar capacity.
2. The company has four advanced manufacturing facilities and the upcoming New Ratlam facility will have a double capacity by FY26, 2,000 MW each of solar panels and inverters and 2,000 MWh of lithium-ion batteries.
3. Based on the FY25 earnings, relative to the company's post-IPO paid up capital, the issue is priced at a P/E ratio of 40x.

“We believe that the issue is fairly valued compared to its peers, posted healthy financial performance between FY23-25, and expanding its production capacity to cater the rising demand. Therefore, we recommend a “Subscribe” rating for the issue,” said the brokerage.

Fujiyama Power IPO allotment date LIVE: Fujiyama Power Systems, which offers solutions for the rooftop solar sector, announced on Wednesday that it has secured ₹247 crore from anchor investors just a day prior to the commencement of its initial public offering. The anchor book attracted participation from 15 different entities, including Nippon India Mutual Fund (MF), Tata MF, BNP Paribas, ValueQuest – Investment Advisors, Societe Generale, LC Pharos Multi Strategy Fund, Astorne Capital, and Citigroup Global Markets Mauritius, as stated in a circular posted on the BSE website.

According to the circular, the company issued more than 1.08 crore equity shares at an anchor investor offer price of ₹228 per share, which resulted in a total raise of ₹246.89 crore.

1. A varied range of solar products and solutions
2. Proven history of technological advancement and product creativity
3. Strong distribution network along with effective post-sale service options
4. Seasoned promoters and experienced senior management
5. Solid financial performance accompanied by growth

Fujiyama Power IPO allotment date LIVE: Tentatively, Fujiyama Power Systems IPO basis of allotment of shares will be finalised on Tuesday, November 18 and the company will initiate refunds on Wednesday, November 19 while the shares will be credited to the demat account of allottees on the same day following refund. Fujiyama Power Systems share price is likely to be listed on BSE and NSE on Thursday, November 20.

Fujiyama Power IPO allotment date LIVE: Fujiyama Power Systems IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating upto ₹50 million.

Fujiyama Power Systems Limited manufactures products and provides solutions in the rooftop solar industry, encompassing on-grid, off-grid, and hybrid solar systems. The company has created an extensive range of over 522 SKUs, including solar inverters, panels, and batteries, designed to reduce customer reliance on other OEMs.

Fujiyama Power IPO allotment date LIVE: Fujiyama Power IPO subscription status was 2.14x on day 3. The retail portion was subscribed 1x, and NII portion has been booked 88%, Qualified Institutional Buyers (QIBs) portion has received 5.15x bids. The employee portion has been subscribed 1.47x.

The company has received bids for 5,63,26,595 shares against 2,63,47,221 shares on offer, at 17:00 IST, according to data on BSE.

Fujiyama Power IPO allotment date LIVE:

Step 1

Go to the allotment section on the official BSE website - Fujiyama Power IPO allotment status can be checked online at https://www.bseindia.com/investors/appli_check.aspx.

Step 2

In the 'Issue Type' dropdown, select 'Equity'.

Step 3

From the 'Issue Name' dropdown menu, select the IPO.

Step 4

Provide your PAN or application number.

Step 5

Tick the box that states 'I am not a Robot' to verify your identity, then click the 'Submit' button.

Fujiyama Power IPO allotment date LIVE:

Step 1

Visit the website of the IPO registrar, which is Link Intime India Private Ltd. Link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2

From the dropdown menu, select the IPO, as its name will only appear once the allocation is finalized.

Step 3

Choose one of the three available methods to check the status: Application No, Demat Account, or PAN.

Step 4

Select either ASBA or non-ASBA for the type of application.

Step 5

Provide the necessary information based on the choice you made in Step 3.

Step 6

Complete the captcha and then click on submit.

Fujiyama Power IPO GMP today or grey market premium was ₹1.5, which meant shares were trading at ₹229.5 or 0.66% higher, just above their issue price of ₹228.

Given the grey market trends from the past 12 sessions, today's IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0.00, whereas the maximum GMP stands at ₹1.50, as per expert analysis.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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.