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1h ago

Fujiyama Power Systems Opens Rs 828-Crore IPO as Grey-Market Signal Stays Flat

Proceeds target a new Ratlam plant, debt reduction and general corporate needs following anchor and pre-IPO funding.

New Delhi-based Fujiyama Power Systems manufactures products and provides solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems.
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Overview

  • The book-built issue is priced at Rs 216–228 per share and is open for subscription from November 13 to 17, with listing scheduled for November 20 on the BSE and NSE.
  • Anchor investors took 1.08 crore shares at Rs 228 to raise about Rs 246.89–247 crore, with 52.33% of the anchor allocation going to two domestic mutual funds.
  • The company earlier raised Rs 75 crore in a pre-IPO placement from VQ FasterCap Fund II and ValueQuest India GIFT Fund, with promoters selling nearly 1.2% stake.
  • Fresh-issue funds include Rs 180 crore for a manufacturing facility in Ratlam, Rs 275 crore for debt repayment, with the balance for general corporate purposes.
  • InvestorGain indicated a grey market premium of Rs 0 at 9:30 a.m. on November 13, while FY25 results showed revenue of about Rs 1,540.7 crore and net profit of Rs 156.3 crore.