New Delhi. Shares of Fujiyama Power Systems, a company that manufactures products like on-grid, off-grid and hybrid solar systems for the rooftop solar industry, disappointed its IPO investors by making a weak entry in the stock market today. Under the IPO, the company’s shares were issued at a price of Rs 228. Today it was listed on BSE at Rs 218.40 with about 4 percent discount and on NSE at Rs 220. After the listing, there was a slight rise in the price of this stock due to the support of buying. After trading till 10:30 am, the company’s shares were trading at Rs 224.40 on BSE and Rs 224.89 on NSE. In this way, the company’s IPO investors are facing a loss of about 1.5 percent in the trading so far.

The Rs 828 crore IPO of Fujiyama Power Systems was open for subscription between November 13 and 17. This IPO received an average response from investors, due to which it was subscribed 2.21 times overall. Of these, the reserve portion for Qualified Institutional Buyers (QIB) was subscribed 5.24 times. At the same time, the reserve portion for Non-Institutional Investors (NII) could receive 0.92 times subscription. Similarly, the reserve portion for retail investors could be subscribed 1.05 times and the reserve portion for employees could be subscribed 1.55 times. Under this IPO, new shares worth Rs 600 crore with face value of Re 1 have been issued. Apart from this, one crore shares have been sold through the offer for sale window. The company will use the money raised through the new shares in the IPO to upgrade its manufacturing facility in Ratlan, reduce the burden of old debt and for general corporate purposes.

Talking about the financial condition of the company, as per the claim made in the Draft Red Herring Prospectus (DRHP) submitted to the capital market regulator SEBI, its financial health has continuously strengthened. In the financial year 2022-23, the company had a net profit of Rs 24.37 crore, which increased to Rs 45.30 crore in the next financial year 2023-24 and jumped to Rs 156.34 crore in 2024-25. During this period, the company’s revenue increased to the level of Rs 1,550.09 crore at a compound annual growth rate of more than 52 percent.

Talking about the current financial year, the company has made a net profit of Rs 67.59 crore in the first quarter i.e. April to June 2025. Similarly, the company has received revenue of Rs 597.79 crore during this period. According to the information given in DRHP, at the end of the first quarter of the current financial year, the company had a debt of Rs 432.83 crore, while the company’s reserves and surplus during this period were Rs 436.33 crore.