The Fujiyama Power Systems IPO, comprising a fresh issue of 2.63 Cr equity shares worth ₹600.00 Cr, and an offer-for-sale of 1.00 Cr equity shares worth ₹228.00 Cr, at a face value of ₹1, is a bookbuilding issue of ₹828.00 Cr.
The Fujiyama Power Systems IPO subscription will start on 13 November 2025 and end on 17 November 2025. The allotment for the IPO is to be scheduled for 18 November 2025. The IPO is to be listed on BSE and NSE as of 20 November 2025.
The Fujiyama Power Systems IPO price band is set for ₹216.00 to ₹228.00 for each share. The lot size for each IPO application is 65 shares with a minimum investment of ₹14,820 for retail investors at the upper value of the price band. The minimum lot for HNIs is 14 lots of 910 shares, aggregating to ₹2,07,480.
Fujiyama Power Systems IPO Details
Explore the Fujiyama Power Systems IPO share price, face value, price band, issue size, and more by checking out the Fujiyama Power Systems IPO details in India:
| IPO Open Date | 13 November 2025 |
| Close Date | 17 November 2025 |
| Face Value | ₹1 per share |
| Price Band | ₹216.00 to ₹228.00 per share |
| Issue Price | Undisclosed |
| IPO Lot Size | 65 shares |
| Sale Type | Fresh issue & offer-for-sale |
| Offer for Sale | 1,00,00,000 equity shares worth ₹228.00 Cr |
| Fresh Issue | 2,63,15,789 equity shares worth ₹600.00 Cr |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size (₹ Cr) | 3,63,15,789 shares worth ₹828.00 Cr |
| Reserved for Market Maker | Undisclosed |
| Net Offered to Public | Undisclosed |
| Minimum Investment(₹) | ₹14,820 (for retail investors) |
| Retail Discount | Undisclosed |
Fujiyama Power Systems IPO Timeline
Here’s the Fujiyama Power Systems IPO timeline, including its bid period and listing date:
| IPO Open Date | 13 November 2025 |
| IPO Closing Date | 17 November 2025 |
| Tentative Allotment | 18 November 2025 |
| Initiation of Refunds | 19 November 2025 |
| Credit of Shares to demat | 19 November 2025 |
| Tentative Listing Date | 20 November 2025 |
| Cut-off Time for UPI Mandate Confirmation | 17 November 2025, at 5 PM |
What is Fujiyama Power Systems’ IPO GMP Percentage?
The Fujiyama Power Systems IPO GMP stands at ₹0 as of 10 November 2025, so the IPO GMP percentage is 0.00%. The estimated listing price is ₹228, and it aligns with the upper band price of the IPO, as of 10 November 2025.
Fujiyama Power Systems IPO Reservation
The Fujiyama Power Systems IPO has arranged for the following reservations for different categories of investors.
| Category | % of Shares Offered | Shares offered |
| Anchor Investors | – | – |
| Market Maker | – | – |
| QIBs | Maximum 50% | – |
| Retail Investors | Minimum 35% | – |
| NII (HNI) | Minimum 15% | – |
| Total Shares Offered | 100% | 3,63,15,789 |
Fujiyama Power Systems Key Performance Indicator
Discover the KPIs and quantitative factors of Fujiyama Power Systems for the past three years (2022 to 2024).
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 39.40 | 18.91 | 12.62 |
| ROCE (%) | 41.01 | 26.60 | 16.81 |
| Debt to Equity Ratio (in times) | 0.87 | 0.84 | 1.09 |
| RoNW (%) | 39.40 | 18.91 | 12.62 |
| PAT Margin (%) | 10.15 | 4.90 | 3.67 |
| EBITDA Margin (%) | 16.13 | 10.67 | 7.77 |
| Price to Book Value | – | – | – |
Fujiyama Power Systems Financials
| Aspect | 2025 (₹ Cr) | 2024 (₹ Cr) | 2023 (₹ Cr) |
| Revenue | 1,540.67 | 924.68 | 664.08 |
| Total Asset | 1,013.95 | 609.64 | 514.56 |
| Profit | 156.33 | 45.30 | 24.37 |
Fujiyama Power Systems IPO Lot Size
The following table provides the Fujiyama Power Systems IPO lot size, and minimum lot and investment required for the investors based on their category:
| Application | Lot Size | Shares | Amount(in ₹) |
| Individual investors (Retail) (Min) | 1 | 65 | 14,820 |
| Individual investors (Retail) (Max) | 13 | 845 | 1,92,660 |
| S-HNI (Min) | 14 | 910 | 2,07,480 |
| S-HNI (Max) | 67 | 4,355 | 9,92,940 |
| B-HNI (Min) | 68 | 4,420 | 10,07,760 |
Fujiyama Power Systems Promoter Holding
Pawan Kumar Garg, Yogesh Dua, and Sunil Kumar are the promoters of Fujiyama Power Systems, and the following is their holdings before and after the issue:
| Pre-Issue Promoter Holding | 99.67% |
| Post-Issue Promoter Holding | 87.88% |
Fujiyama Power Systems IPO Anchor Investors Details
The table below shows the anchor investor’s reservation and the funds to be raised by Fujiyama Power Systems Ltd.
| Bid Date | 12 November 2025 |
| Shares Offered | Undisclosed |
| Anchor Portion Size (In Cr.) | Undisclosed |
| Anchor lock-in period end date for 50% shares (30 Days) | 18 December 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | 16 February 2026 |
Fujiyama Power Systems IPO Prospectus
For more details on the Fujiyama Power Systems IPO, explore the official documents filed with SEBI.
About Fujiyama Power Systems
| Founded in | 12 December 2017 |
| Chairman and Joint Managing Director | Pawan Kumar Garg |
| Parent Organisation | NA |
| Services Provided | Manufacturing solar components, channel network, customer end services and solutions, and innovation and R&D |
| Book running lead manager | Motilal Oswal Investment Advisors Limited , SBI Capital Markets Limited |
| Registrar of the issue | MUFG Intime India Private Limited |
Objectives of the Fujiyama Power Systems
The net proceeds from the fresh issue portion of the Fujiyama Power Systems IPO is planned to be utilised as mentioned in the table below:
| Fund Utilisation | Amount (in ₹ Cr) |
| Capital Expenditure towards Manufacturing Facilities | 250.00 |
| Payment of debts | 300.00 |
| General Corporate Purposes | – |
Strength Of Fujiyama Power Systems
- Strong Product Gameplay: The Fujiyama Power Systems offers a wide range of products across solar components, along with e-rickshaw chargers and online UPS systems, which adds a unique edge in the solar and power backup industry
- Manufacturing and R&D Capabilities: The company has in-house R&D for inverter technologies and significant manufacturing capacity expansions planned for solar panels, batteries, and inverters.
- Nation-wide Distribution Network: The company has more than 7,000 channel partners, including dealers, distributors, and outlets, which provide it a pan-India reach.
- Brand Presence and Industry Reputation: The company has received multiple awards, such as ‘India’s Most Preferred Solar Energy Brand’ and ‘Renewable Energy Excellence Award’, establishing itself as a trusted and recognised name in the solar energy market.
Risk of Fujiyama Power Systems
- Reliance on Limited Suppliers and Customers: A considerable share of Fujiyama Power Systems’ raw material procurement and revenue is dependent on a limited number of suppliers and customers, and any disruption in these relationships may impact business operations.
- Working Capital Requirement: The company’s operations require large inventory levels and extended receivable periods, which result in high working capital needs, and a delay in collection or a shortage of funds could disrupt its liquidity.
- Regulatory and Policy Dependence: The renewable energy sector is highly affected by government policies, tax incentives, and subsidy programs. The changes in such frameworks shall affect the profitability of the company and impact its growth.
- Market Competition and Volatility: The solar and battery manufacturing market faces high competition and faster technological evolution. While the volatility in the market as well as in the prices of the raw materials can reduce margins and weaken the cost competitiveness.
Fujiyama Power Systems IPO Review
Fujiyama Power Systems Ltd. is a solar and power solutions company with a wide range of products, including solar panels, inverters, batteries, and e-mobility equipment. Its strong manufacturing base, expanding distribution network, and focus on renewable energy provide it with growth potential.
However, the reliance on its major suppliers, high working capital needs, and competition in the solar sector bring in challenges. The IPO offers a balanced opportunity for investors interested in India’s fast-growing sustainable energy market.
Other Recent IPO List
Here’s a list of more ongoing and upcoming IPOs in India, 2025:
| PhysicsWallah IPO | Curis Lifesciences IPO |
| Emmvee Photovoltaic Power IPO | Pine Labs IPO |
| Shining Tools IPO | Finbud Financial Services IPO |
| Tenneco Clean Air IPO | Lenskart Solutions IPO |
Fujiyama Power Systems IPO FAQ‘s
The Fujiyama Power Systems IPO is a bookbuilding issue of ₹828 Cr, comprising a fresh issue of 2.63 Cr equity shares worth ₹600.00 Cr and an offer for sale of 1.00 Cr equity shares worth ₹228.00 Cr, at a face value of ₹1, to be listed on the NSE SME platform on 18 November 2025.
The investors can apply online for the Fujiyama Power System IPO through their ASBA-enabled bank accounts or through UPI using broker or trading platforms.
Fujiyama Power Systems’ IPO looks promising with strong products, growing capacity, and a broad distribution network in a rising renewable market. However, high working capital needs, supplier dependence, and competition pose risks, making it a balanced but cautious investment choice. It could be an attractive deal for investors with a medium to long-term investment horizon.
Fujiyama Power Systems reported a revenue of ₹1,540.67 Cr and profit of ₹156.33 Cr in FY 2025, with ROE at 39.40% and ROCE at 41.01%. While the GMP is ₹0, limiting short-term gains, the fundamentals indicate a steady long-term growth potential.
The Fujiyama Power Systems IPO subscription period opens on 13 November 2025 and closes on 17 November 2025.
The lot size for Fujiyama Power Systems IPO is 65 shares, with a requirement of ₹14,820 as minimum investment for the retail investors at the upper value of the price band.
The allotment for the Fujiyama Power Systems IPO is tentatively scheduled to be finalised on 18 November 2025, and the refunds and share credits are to be processed by 19 November 2025.
The Fujiyama Power Systems IPO is tentatively scheduled to be listed on the stock exchanges BSE and NSE on 20 November 2025.
