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14 Nov, 2025
Fujiyama Power Systems IPO
The size of Fujiyama Power Systems IPO is ₹228.00 crores, with a fresh issue and OFS of up to 1,00,00,000 equity shares, face value of ₹1 each. It is a book-building offer with a price band of ₹216.00 per equity share and an upper end of the price band at ₹228.00 per equity share. The offer will be launched on 13 November 2025 and close three days later on 17 November 2025. The shares are proposed to list on BSE and NSE on 20 November 2025. The lot size of the Nureca IPO is 65 shares and the minimum order quantity is 1 lot, meaning investors have to place an order for at least 65 shares.
Company Background
Established in 2017 and based in Delhi, Fujiyama Power Systems Limited is a company of manufacturing and supplying rooftop solar power and on-grid, off-grid & hybrid solar systems with a wide range of UPS, inverters and Batteries. The company’s catalog comprises more than 522 SKUs and works to decrease customer reliance on other OEMs. The operative parts of this network include a strong distribution infrastructure with more than 725 distributors, 5,546 dealers and 1,100 exclusive “Shoppe” franchisees. More than 600 highly-trained service engineers operate a state-of-the-art service support tank within the company. Fujiyama supplies its produce to the USA, Bangladesh, UAE, as well.
Operations and Product Range
Facility and Production
Fujiyama Power Systems IPO has four manufacturing plants – Dadri (Uttar Pradesh), Bawal (Haryana), Parwanoo (Himachal Pradesh) & Greater Noida (Uttar Pradesh). All plants are certified under ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental) and ISO 45001:2018 (Occupational health & safety). Its wide product portfolio consists of solar PCUs, on/off-grid and hybrid inverters, panels, PWM chargers, battery chargers, lithium-ion and tubular batteries, UPS systems, solar management units and charge controllers.
Brands and Market Presence
Fujiyama-branded products are known under its house brand “Fujiyama”. The company has a strong presence in key Indian markets, including growing states such as UP, Maharashtra, Gujarat and Delhi NCR and is aiming to increase its exports throughout Asia and the United States. Its concentration on diversified, advanced technological solar products forms the foundation of its competitiveness.
Fujiyama Power Systems IPO Revenue Channels
The company earns on the sale of solar inverters, panels, lithium-ion batteries and power backup systems, besides service and maintenance contracts.
Management and Shareholding
Promoters and Shareholding
The promoters of the Fujiyama Power Systems IPO are Mr. Arun Gupta and Ms. Priya Gupta, who have demonstrated a history in the electronics industry and the renewable energy sector. A significant pre-IPO ownership is behind them for ongoing leadership. They are the majority holder purpose of preserving the strategy and experienced management post-issue.
Board Members
The Fujiyama Power Systems IPO board is led by Arun Gupta as its Chairman and MD, along with professionals from the industry who are experienced in finance, manufacturing and corporate compliance. Their combined experience serves as the foundation of the company’s growth aspirations and governance principles.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Fujiyama Power Systems IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Fujiyama Power Systems IPO Details
| Detail | Description |
|---|---|
| IPO Date | November 13, 2025 to November 17, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Issue Price Band | ₹216 to ₹228 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,00,00,000 shares (aggregating up to ₹228.00 Cr) |
| Offer for Sale | 1,00,00,000 shares of ₹1 (aggregating up to ₹228.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 28,00,95,145 shares |
Fujiyama Power Systems IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thu, Nov 13, 2025 |
| IPO Close Date | Mon, Nov 17, 2025 |
| Tentative Allotment | Tue, Nov 18, 2025 |
| Initiation of Refunds | Wed, Nov 19, 2025 |
| Credit of Shares to Demat | Wed, Nov 19, 2025 |
| Tentative Listing Date | Thu, Nov 20, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 17, 2025 |
Fujiyama Power Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 65.00 | ₹14,820 |
| Individual investors (Retail) (Max) | 13 | 845.00 | ₹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 IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 99.67% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • Strong double-digit increases in revenue and profits over the last fiscal year
- • Large product range (522+SKUs) with a leading domestic and expanding export presence
- • Established and certified manufacturing infrastructure across four states
- • Experienced promoters and a professional board for industry credibility
- • Strong distribution network and service infrastructure across the country and overseas
Fujiyama Power Systems IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 1,243.88 | 597.79 | 67.59 | 464.34 | 432.83 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 1,013.96 | 1,550.09 | 156.34 | 397 | 346.22 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 609.64 | 927.20 | 45.3 | 239.54 | 200.19 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 514.56 | 665.33 | 24.37 | 70.55 | 211.14 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 39.40% |
| ROCE | 41.01% |
| Debt/Equity | 0.87 |
| RoNW | 39.40% |
| PAT Margin | 10.15% |
| EBITDA Margin | 16.13% |
| Price to Book Value | 16.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.58 | |
| P/E (x) | 40.85 | 41.01 |
Fujiyama Power Systems IPO Objectives
The net proceeds will be used for:
- 1. Part-financing a new manufacturing facility in Ratlam, Madhya Pradesh (₹180 crores)
- 2. Repayment/prepayment of certain outstanding borrowings (₹275 crores)
- 3. General corporate purposes
Conclusion
The Fujiyama Power Systems IPO offers investors a unique opportunity to tap into India’s fast-growing rooftop solar and power solutions market. With experienced management, technology innovation and financial strength, Fujiyama is poised to capitalize on the renewable energy / Carbon Reduction drive in India and overseas.
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Frequently asked Questions (FAQs )
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How big is the Fujiyama Power Systems IPO?
The IPO size is ₹228 crore at the upper price band of ₹228 a share and 1 crore shares would be sold through this IPO.
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Who are the promoters of Fujiyama Power Systems IPO?
Arun Gupta and Priya Gupta, leaders with decades of experience in electronics and renewable energy, are promoters.
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What is the objective of the Fujiyama Power Systems IPO?
The net proceeds would be used for expanding the capacity of a new plant in Madhya Pradesh, repayment of loans and corporate purposes.
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What products are sold by Fujiyama?
Solar inverters, panels, lithium-ion/tubular batteries, UPS and solar management units are the main products sold by the company.
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What is Fujiyama’s financial performance?
FY2025 income was ₹1,550 crore and PAT was ₹156 crore, with strong margin ratios.
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