India’s clean energy momentum continues to attract investor interest — and the Fujiyama Power Systems IPO is the latest example. The company, known for its rooftop solar products, opened its public issue on November 13, 2025, marking an important step in its expansion journey.
Through a combination of newly issued shares and an offer for sale (OFS) from current shareholders, the IPO targets to raise ₹828 crore from the primary market.
Market Performance and IPO Opening
The Fujiyama Power Systems IPO opened for subscription on November 13 and will stay open until November 17, 2025. The issue began on a steady note, a pattern often seen in larger IPOs that tend to gain momentum as investor participation builds up over subsequent days.
According to data available till 10:30 AM on Day 1:
- Overall Subscription: 2%
- Retail Individual Investors (RII): 4%
- Non-Institutional Investors (NII): 1%
- Qualified Institutional Buyers (QIBs): No bids yet
While institutional investors are yet to step in, early retail participation indicates cautious optimism among individual investors.
Fujiyama Power Systems IPO Details
The company has set a price band of ₹216 to ₹228 per share, with the issue structured as a blend of fresh issue and offer for sale by promoters.
Here’s a quick breakdown:
- Total Issue Size: ₹828 crore
- Fresh Issue: ₹600 crore (2.63 crore equity shares)
- Offer for Sale (OFS): ₹228 crore (1 crore shares)
- Lot Size: 65 shares per lot
Ahead of the IPO launch, Fujiyama Power Systems raised ₹246.9 crore from 15 anchor investors on November 12. Additionally, the company’s promoters offloaded a 1.17% stake to ValueQuest before the issue opened.
The IPO is being managed by Motilal Oswal Investment Advisors Ltd. as the lead book-running manager, and MUFG Intime India Pvt. Ltd. is acting as the registrar.
IPO Objectives and Utilization of Funds
The fresh issue proceeds are earmarked for strengthening Fujiyama Power Systems’ manufacturing and financial position. The company plans to utilize the funds for:
- Establishing a new manufacturing plant in Ratlam
- Repayment or prepayment of certain outstanding borrowings
- General corporate purposes
This capital infusion will support the company’s efforts to scale production capacity and reduce leverage, aligning with its expansion goals across India’s growing solar equipment market.
IPO Dates and Listing Details
Investors tracking the issue should note the following key dates:
- IPO Open Date: November 13, 2025
- IPO Close Date: November 17, 2025
- Allotment Date: November 18, 2025
- Expected Listing Date: November 20, 2025
- Listing Exchange: BSE and NSE
The timeline provides a clear roadmap for applicants awaiting allotment and subsequent listing activity.
Company Overview
Headquartered in Noida, Fujiyama Power Systems Ltd. is a leading manufacturer of rooftop solar systems — a segment witnessing rapid adoption as India advances toward renewable energy self-reliance.
The company has shown consistent growth in both scale and profitability, driven by increased demand for solar-powered solutions and the government’s push for cleaner energy. With ongoing facility expansions and the upcoming Ratlam project, Fujiyama Power Systems is positioning itself to capture a larger market share in the solar equipment industry.
Summary
The Fujiyama Power Systems IPO is one of the notable renewable energy offerings in the Indian market this year. Here’s a quick recap of the essentials:
- IPO Size: ₹828 crore
- Price Band: ₹216–₹228 per share
- Fresh Issue: ₹600 crore
- OFS: ₹228 crore
- Lot Size: 65 shares
- Open Date: November 13, 2025
- Close Date: November 17, 2025
- Expected Listing: November 20, 2025
Easy & quick
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