Fujiyama Power Systems came to market through an IPO that opened on 13 November 2025 and closed on 17 November 2025, and the shares listed on 20 November 2025 on BSE, NSE. The price band was ₹216 to ₹228 per share and one lot was 65 shares, so the minimum application was ₹14,820. The issue size was ₹828 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MUFG Intime India Pvt.Ltd was the registrar to the issue, and Motilal Oswal Investment Advisors Ltd, SBI Capital Markets Ltd were the lead managers.
As of 17 November 2025.
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Established in 2017, Fujiyama Power Systems Limited produces products and solutions for the rooftop solar sector, such as on-grid, off-grid, and hybrid solar systems.
The company has created a vast product portfolio of more than 500 SKUs, ranging from solar inverters, panels, and batteries, designed to minimize customer dependence on other OEMs.The Company serve customers through a large distribution network of more than 480 distributors, 3,600 dealers, and 1,000 exclusive 'Shoppe' franchisees who are trained to read customer requirements and provide tailor-made solar systems. We also have more than 400 experienced service engineers delivering maintenance and technical support.
The company deals with a broad portfolio of products such as solar PCUs, off-grid, on-grid, and hybrid inverters, solar panels, PWM chargers, other battery chargers, lithium-ion and tubular batteries, online and offline UPS systems, solar management units, and charge controllers. The company has three production units in Greater Noida, Uttar Pradesh, Parwanoo, Himachal Pradesh and Bawal, Haryana.The production systems of the company are certified to ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health and Safety).
The products of the company are exported to nations like the USA and various countries in Asia, including Bangladesh and the UAE. The company had 1,808 full-time employees as of September 30, 2024.
As described in the offer document.
| Metric | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Fujiyama Power raises nearly Rs 247 crore via anchor book. Of the total allocation to anchor investors, 56.66 lakh shares worth Rs 129.2 crore (52.33 percent of anchor book) were allocated to two domestic mutual funds - Nippon Life India, and Tata Mutual Fund. The other investors who participated in the anchor book include BNP Paribas, ValueQuest, Societe Generale, LC Pharos Multi Strategy Fund, Citigroup Global, and Ampersand Growth Opportunities Fund.
Pawan Kumar Garg, Yogesh Dua, Sunil Kumar. Promoter holding 99.67% before the issue and 87.88% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Fujiyama Power Systems IPO was a ₹828 crore book-built issue, comprising a fresh issue of ₹600 crore and an offer for sale of ₹228 crore. It was priced at ₹216–₹228 per share with a lot size of 65 shares (₹14,820). The IPO was open from November 13 to November 17, 2025 and was subscribed 2.14x. Shares listed on BSE and NSE on November 20, 2025 at ₹220, a 3.5% discount to the issue price of ₹228. MUFG Intime India Pvt.
Ltd. is the registrar. Motilal Oswal Investment Advisors Ltd and SBI Capital Markets Ltd are the book running lead managers.
The price band of Fujiyama Power Systems IPO is ₹216 to ₹228 per share.
The lot size of Fujiyama Power Systems IPO is 65 shares.
The minimum investment for Fujiyama Power Systems IPO is approximately ₹14,820 based on the upper price band.
The allotment date of Fujiyama Power Systems IPO is Nov 18, 2025.
No GMP quote could be verified as recorded before Fujiyama Power Systems IPO listed. A grey-market observation of ₹1 per share was recorded on 20 Nov 2025, 7:00 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹220. GMP is unofficial and does not forecast or guarantee the actual listing price.
Fujiyama Power Systems IPO listed on Nov 20, 2025. It was issued at ₹220.0(NSE) and is currently around ₹360.00 as on 2-Nov-2026 3:30 PM, which is approximately 57.9% versus issue price. The 52-week high is ₹494.25.
You can check Fujiyama Power Systems IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Fujiyama Power Systems IPO allotment status on Rupix for quick and easy access.
₹216 to ₹228 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 65 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,820.
₹14,820, for one lot of 65 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 13 November 2025 and closed on 17 November 2025.
The basis of allotment was published on 18 November 2025 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 20 November 2025 on BSE, NSE.
The issue size was ₹828 crore. The fresh issue was 2,63,15,789 shares (aggregating up to ₹600 crore). The offer for sale was 1,00,00,000 shares (aggregating up to ₹228 crore).