Fujiyama Power Systems Limited IPO
Fujiyama Solar operates in India’s rooftop solar industry, manufacturing and supplying a wide range of solar products including panels, inverters, and batteries. It has developed several proprietary technologies, including its patented rMPPT technology. Its diverse portfolio of over 522 SKUs is marketed under the “UTL Solar” and “Fujiyama Solar” brands. As of June 30, 2025, the Company operates four manufacturing facilities and maintains a robust pan-India distribution network comprising over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees.
Price Band₹216 - ₹228 |
Dates13 Nov - 17 Nov |
GMP₹0.5 (0.22%) |
Subscriptions- |
Issue Size₹828.00 Crs |
Fujiyama Power Systems IPO Key Dates
Opening Date
13 Nov 25
Closing Date
17 Nov 25
Basis Of Allotment
18 Nov 25
Initiations Of Refund
19 Nov 25
Credit Of Shares
19 Nov 25
Listing Date
20 Nov 25
Fujiyama Power Systems IPO Objects
- Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India
- Repayment of all or a portion of certain outstanding borrowings availed by our Company
- General corporate purposes
Fujiyama Power Systems IPO Details
Price Band₹216 - ₹228 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹600.00 Cr (2.63 Cr Shares) |
Offer For Sale₹228.00 Cr (1.00 Cr Shares) |
Total Issue₹828.00 Cr (3.63 Cr Shares) |
Face Value₹1 per equity share |
Fujiyama Power Systems IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
65
14,820
Maximum
13
845
1,92,660
|
|||
| Small HNI |
Minimum
14
910
2,07,480
Maximum
67
4,355
9,92,940
|
|||
| Big HNI |
Minimum
68
4,420
10,07,760
|
|||
Fujiyama Power Systems IPO GMP
The estimated Grey Market Premium of Fujiyama Power Systems IPO is ₹0.5 per share (0.22%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIBs | Not more than 50% of Net Offer |
| Big HNIs (NII) | Not less than 10% of Net Offer |
| Small HNIs (NII) | Not less than 5% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Employee | Rs. 5 Cr |
| Shareholder | - |
Fujiyama Power Systems IPO Financials
| Particulars | Jun-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue from Operations | 597.35 | 1,540.68 | 924.69 | 664.08 |
| Profit after Tax | 67.59 | 156.34 | 45.30 | 24.37 |
| Net Worth | 464.34 | 396.82 | 239.54 | 193.08 |
| Total Borrowing | 432.83 | 346.22 | 200.19 | 200.19 |
| Total Assets | 1,243.88 | 1,013.96 | 609.64 | 514.56 |
| NAV per share (in ₹) | 16.58 | 14.19 | 8.56 | 6.90 |
| EPS - Basic (in ₹) | 2.41 | 5.59 | 1.62 | 0.87 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 16.13% |
| PAT | 10.15% |
| ROE | 39.40% |
| ROCE | 41.01% |
| Debt to Equity | 0.87 |
| PE Ratio | 40.79 |
| PB Ratio | 16.07 |
| Mkt Cap (in Crs.) | 6,986.17 |
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Fujiyama Power Systems IPO Peer Comparision
| Particulars | Fujiyama | Waaree Energies | Premier Energies | Exicom Tele | Insolation Energy |
|---|---|---|---|---|---|
| Revenue from Ops (in Crs.) | 1,540.68 | 14,444.50 | 6,518.75 | 867.61 | 1,333.76 |
| PAT (In Crs.) | 156.34 | 1,928.13 | 126.20 | -110.03 | 937.13 |
| EPS - Basic | 5.59 | 68.24 | 21.35 | -9.11 | 5.00 |
| NAV per share | 14.17 | 334.00 | 62.61 | 50.80 | 28.00 |
| RONW | 39.40% | 20.09% | 33.21% | -17.93% | 20.46% |
| EBITDA | 16.13% | 18.81% | 12.06% | -4.31% | 27.33% |
| PAT Margin | 10.15% | 13.35% | 9.46% | -12.68% | 14.38% |
| Price to earning (PE) | 40.79 | 49.04 | 47.91 | NA | 31.68 |
- All information pertains to FY 2024-25.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of October 10, 2025 for Peers
Fujiyama Power Systems IPO Peer Comparision
| Particulars | Fujiyama |
|---|---|
| Revenue from Ops (in Crs.) | 1,540.68 |
| PAT (In Crs.) | 156.34 |
| EPS - Basic | 5.59 |
| NAV per share | 14.17 |
| RONW | 39.40% |
| EBITDA | 16.13% |
| PAT Margin | 10.15% |
| Price to earning (PE) | 40.79 |
| Waaree Energies | Premier Energies | Exicom Tele | Insolation Energy |
|---|---|---|---|
| 14,444.50 | 6,518.75 | 867.61 | 1,333.76 |
| 1,928.13 | 126.20 | -110.03 | 937.13 |
| 68.24 | 21.35 | -9.11 | 5.00 |
| 334.00 | 62.61 | 50.80 | 28.00 |
| 20.09% | 33.21% | -17.93% | 20.46% |
| 18.81% | 12.06% | -4.31% | 27.33% |
| 13.35% | 9.46% | -12.68% | 14.38% |
| 49.04 | 47.91 | NA | 31.68 |
- All information pertains to FY 2024-25.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of October 10, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Pawan Kumar Garg | 38.68% |
| Yogesh Dua | 38.68% |
| Sunil Kumar | 4.91% |
| Others | 17.39% |
| Total | 99.66% |
Management Details
| Name | Designation |
|---|---|
| Pawan Garg | Chairman & JMD |
| Yogesh Dua | CEO & JMD |
| Prashant Gupta | CFO |
Company Details
Name: Fujiyama Power Systems Limited
Address: 53A/6, Near NDPL Grid Office, Near Metro Station, Industrial Area, Sat Guru Ram Singh Marg, Delhi - 110015, India
Number: +91 11 41055305
Email: investor@utlsolarfujiyama.com
Website: www.utlsolarfujiyama.com
Book Running Lead Managers (BRLMs)
RTAs
MUFG Intime India
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Fujiyama Power Systems IPO is a Mainboard IPO having an issue size of Rs. ₹828.00 Crs. Fujiyama Power Systems IPO is priced at ₹216 - ₹228 per share. The issue opens on 13 Nov 25 and closes on 17 Nov 25.
Fujiyama Power Systems IPO opens on 13 Nov 25 and closes on 17 Nov 25.
The estimated Grey Market Premium of Fujiyama Power Systems IPO is ₹0.5 per share (0.22%).
The minimum lot size of Fujiyama Power Systems IPO is 65 shares & the minimum application amount is Rs. 14820.
The allotment date of Fujiyama Power Systems IPO is 18 Nov 25.
The listing date of Fujiyama Power Systems IPO is 20 Nov 25.
Fujiyama Power Systems IPO is subscribed -.
Fujiyama Power Systems IPO is priced at ₹216 - ₹228 per share.
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