Fujiyama Power IPO closes today: Should you bid?
17 Nov 2025

Fujiyama Power Systems' initial public offering (IPO) opened for bidding on November 13. Today marks the last day for investors to bid for the company's shares.

As of today morning, the IPO was subscribed at a rate of 45%.

The qualified institutional buyers (QIB) portion was subscribed at 81%, while non-institutional investors (NII) and retail investors segments were subscribed at rates of 16% and 38%, respectively.

Fujiyama Power Systems IPO: Financial details and future plans
Investment strategy

The ₹828-crore IPO is priced between ₹216-228 per share. It includes a fresh issue of equity shares worth up to ₹600 crore and an offer for sale of 10 lakh shares by promoters.

The company intends to use the funds from this initial share sale for part-financing a manufacturing facility in Ratlam, Madhya Pradesh, repaying certain borrowings, and general corporate purposes.

Fujiyama Power Systems IPO's gray market premium
Market performance

The gray market premium (GMP) for the Fujiyama Power Systems IPO has remained subdued.

As of today, the GMP was ₹0, indicating that shares were trading at par with the upper end of the price band.

This suggests no premium in the gray market and a potential listing at its issue price.

Fujiyama Power Systems IPO: Brokerage reviews and recommendations
Expert opinions

Brokerage Anand Rathi has rated the IPO as "Subscribe - Long Term," citing government initiatives like Rooftop Solar Scheme Phase II, and PM Surya Ghar-Muft Bijli yojna.

Canara Bank Securities also recommended a long-term investment in Fujiyama Power Systems Ltd., noting its strong brand equity, nationwide distribution, integrated manufacturing capabilities, and patented rMPPT technology, among other things.