Fujiyama Power Systems Rs 828-cr IPO subscribed over 2 times on final day

New Delhi, Nov 17 (PTI) The initial public offer of Fujiyama Power Systems, which provides solutions for the rooftop solar industry, was subscribed to more than 2 times on the final day of share sale on Monday.

The Rs 828-crore IPO received bids for 5,63,26,400 shares as against 2,63,47,221 shares on offer, translating to 2.14 times subscription, according to data available with the NSE.

The qualified institutional buyers' category received 5.15 times subscription while the quota for non-institutional investors subscribed 88 per cent. The retail individual investors part was also subscribed fully.

Fujiyama Power Systems said it has raised Rs 247 crore from anchor investors.

Fujiyama Power Systems (UTL Solar) raised Rs 75 crore in a pre-IPO round from VQ FasterCap Fund II and ValueQuest India GIFT Fund with promoters selling nearly a 1.2 per cent stake in the company.

The company fixed a price band of Rs 216-228 per share.

The IPO is a combination of a fresh issue of equity shares worth up to Rs 600 crore and an offer for sale of 10 lakh shares, valued at Rs 228 crore at the upper end, by promoters.

Greater Noida-based Fujiyama Power Systems is a manufacturer of products and solution provider in the rooftop solar industry, including on-grid, off-grid and hybrid solar systems.

The company has built a brand recall and reputation in the industry through its brands 'UTL Solar', which has a legacy of 28 years, and Fujiyama Solar.

Financially, the company's revenue from operations stood at Rs 1,540.67 crore during FY25 as against Rs 664.08 crore during FY23.

It posted a net profit of Rs 156.33 crore in FY25 as against Rs 24.36 crore in FY23.

The company's shares are proposed to be listed on the BSE and NSE.

Motilal Oswal Investment Advisors Ltd and SBI Capital Markets are the book-running lead managers, and MUFG Intime India is the registrar of the issue. PTI HG HG MR