Fujiyama Power Systems IPO: Price band set at ₹216-228 per share; key dates, issue details, more

Fujiyama Power Systems IPO price band has been fixed in the range of ₹216 to ₹228 per equity share of the face value of Re 1. The Fujiyama Power Systems IPO date of subscription is scheduled for Thursday, November 13 and will close on Monday, November 17. The allocation to anchor investors for the Fujiyama Power Systems IPO is scheduled to take place on Wednesday, November 12.

The floor price is 216 times the face value of the equity shares and the cap price is 228 times the face value of the equity shares. The Fujiyama Power Systems IPO lot size is 65 equity shares and in multiples of 65 equity shares thereafter.

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.

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 Systems IPO details

According to the Red Herring Prospectus filed on November 7, the company aims to raise ₹600 crore by issuing new shares, while promoters Pawan Kumar Garg and Yogesh Dua will sell 1 crore equity shares through an offer-for-sale.

This offer-for-sale has been scaled back from the 2 crore equity shares originally proposed in the Draft Red Herring Prospectus that was refiled on March 6 of this year. The Securities and Exchange Board of India approved the revised draft documents in July 2025.

The company, which produces goods and offers services in the rooftop solar sector under the brands UTL Solar and Fujiyama Solar, plans to allocate ₹180 crore of the proceeds from the new issue to set up manufacturing facilities for solar inverters, solar panels, and lithium-ion batteries in Ratlam, Madhya Pradesh.

The IPO for Fujiyama Power Systems is being handled by the merchant bankers Motilal Oswal Investment Advisors and SBI Capital Markets. MUFG Intime India Pvt Ltd is the registrar of the issue.

Company Details

Fujiyama Power Systems Limited creates products and offers solutions within the rooftop solar sector, which includes on-grid, off-grid, and hybrid solar systems. The company has developed a wide product range consisting of more than 522 SKUs, such as solar inverters, panels, and batteries, aimed at decreasing customer dependence on other OEMs.

The company supports its customers through a vast distribution network that includes over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees who are trained to comprehend customer needs and provide tailored solar solutions. Furthermore, we have over 602 qualified service engineers available to deliver maintenance and technical assistance.

Net profit for the fiscal year ending March 2025 reached ₹156.4 crore, reflecting a remarkable increase of 245.2% compared to ₹45.3 crore from the prior year. During the same timeframe, revenue surged by 66.6% to ₹1,540.7 crore, up from ₹924.7 crore.

As per the RHP, the company's listed peers are Waaree Energies (with a P/E of 49.04), Premier Energies (with a P/E of 47.91), Exicom Tele Systems, and Insolation Energy (with a P/E of 31.68).

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