Fujiyama Power Systems IPO will open for subscription on November 13, 2025 and closes on November 17, 2025. Founded in 2017, Fujiyama Power Systems Limited manufactures products and provides solutions for India’s rooftop solar market.
The company develops on-grid, off-grid, and hybrid systems for homes, businesses, and institutions, enabling lower energy costs and broader adoption of distributed solar. Its catalogue covers more than 522 SKUs, including solar inverters, panels, and batteries, designed to work together as integrated systems.
This blog will provide you with all the details about the Fujiyama Power Systems IPO issue size, minimum investment, financial performance, peer comparison, and risk factors.
Fujiyama Power Systems IPO Date
The key pointers for the Fujiyama Power Systems IPO dates are:
- Bidding Opening Date: November 13, 2025
- Bidding Closing Date: November 17, 2025
- Allotment Date: November 18, 2025
- Initiation of Refunds (in case of less or no allotment): November 19, 2025
- Shares Credited to Your Demat Account: November 19, 2025
- IPO Listing Date: November 20, 2025
- Listing on Exchange: BSE and NSE
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Fujiyama Power Systems IPO Issue Size
Fujiyama Power Systems IPO valuation, as denoted by the market capitalisation, is targeted at ₹6,986.17 crores. Here are the essential details:
- Fujiyama Power Systems IPO Price Band: ₹216 to ₹228 per share
- Lot Size: 65 Shares
- Face Value: ₹1 per share
- Total Issue Size and Amount: 3.63 crore shares (aggregating up to ₹828 crores)
- Fresh Issue and Amount: 2.63 crore shares (aggregating up to ₹600 crores)
- Offer for Sale and Amount: 1 crore shares of ₹1 (aggregating up to ₹228 crores)
Fujiyama Power Systems IPO Proceeds Usage
The offer for sale proceeds of ₹228 crores will be directed to selling shareholders, Pawan Kumar Garg and Yogesh Dua.
The company plans to deploy the fresh issue proceeds towards the following objectives:
- Partly fund the establishment of a manufacturing facility at Ratlam, Madhya Pradesh – ₹180 crores.
- Repay and/or prepay, in whole or in part, certain outstanding borrowings of the Company – ₹275 crores.
Fujiyama Power Systems IPO Reservations
Fujiyama Power Systems IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Issue
- For NIIs: Not less than 15% of the Net Issue
- For Retail Investors: Not less than 35% of the Net Issue
Fujiyama Power Systems IPO Lot Size
The Fujiyama Power Systems IPO lot size is 65 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,820 |
| S-HNI (Min) | 14 | 910 | ₹2,07,480 |
| B-HNI (Min) | 68 | 4,420 | ₹10,07,760 |
Fujiyama Power Systems IPO Details: Promoter Holding
The promoters of the company are Pawan Kumar Garg, Yogesh Dua, and Sunil Kumar.
Fujiyama Power Systems Ltd: Company Overview
Founded in 2017, Fujiyama Power Systems Limited makes and delivers rooftop solar solutions across on-grid, off-grid, and hybrid systems. Its portfolio spans 522 plus SKUs, including solar inverters, panels and batteries, helping reduce dependence on external OEMs.
The company serves customers through a nationwide network of over 725 distributors, 5,546 dealers and 1,100 Fujiyama Shoppe franchisees, supported by more than 600 qualified service engineers.
Products include solar PCUs, inverters, panels, PWM and other chargers, lithium-ion and tubular batteries, online and offline UPS, solar management units and charge controllers. Manufacturing runs across four facilities in Greater Noida and Dadri in Uttar Pradesh, Parwanoo in Himachal Pradesh, and Bawal in Haryana.
Fujiyama Power Systems IPO: Financial Performance
Fujiyama Power Systems Ltd’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Total Income | 1,550 | 927 | 67% |
| Profit After Tax | 156 | 45 | 245% |
| EBITDA | 249 | 99 | 152% |
| Net Worth | 397 | 240 | 66% |
| Assets | 1,014 | 610 | 66% |
| Total Borrowings | 346 | 200 | 73% |
- In FY25, Fujiyama Power Systems Limited’s total income reached ₹1,550 crores, marking a 67% growth compared to FY24.
- Profit after tax jumped to ₹156 crores, a remarkable 245% increase YoY in FY25.
- EBITDA rose to ₹249 crores, showing a strong 152% growth over the previous year.
- The company’s net worth climbed to ₹397 crores, up 66% from FY24.
- Total assets increased to ₹1,014 crores, reflecting a 66% increase YoY.
- Total borrowings increased to ₹346 Cr, up 73% compared to the prior year.
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Fujiyama Power Systems IPO Peer Comparison
Here is the peer comparison table for Fujiyama Power Systems Ltd with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | ROE (%) | ROCE (%) | Debt-Equity Ratio |
|---|---|---|---|---|---|
| Fujiyama Power Systems | 5.59 | 40.85 | 39.40% | 41.01% | 0.87 |
| Waaree Energies | 68.24 | 49.04 | 20.34% | 21.12% | 0.10 |
| Premier Energies | 21.35 | 47.91 | 33.21% | 31.64% | 0.67 |
| Exicom Tele Systems | -9.11 | – | -17.93% | -8.37% | 0.74 |
| Insolation Energy | 5.95 | 31.68 | 20.47% | 23.69% | 0.18 |
- EPS: Fujiyama Power Systems Ltd’s EPS is only ₹5.59, and it is lower than big players like Waaree Energies and Premier Energies.
- P/E Ratio: This IPO is coming at a P/E ratio of 40.85, and it is at par with the industry average ratio of 42.87.
- ROE: It has delivered the best return on equity of 39.40% in FY25, highlighting higher returns for shareholders.
- Return on Capital Employed: Similarly, it has the best in the industry ROCE of 41.01% in FY25.
- Debt-Equity Ratio: The debt-to-equity ratio is less than 1, showing that its dependency on borrowed money is less.
Fujiyama Power Systems IPO Risk Factors
Fujiyama Power Systems IPO GMP is nil as of November 12, 2025. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Fujiyama Power Systems IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Operational disruptions or shutdowns at current or future plants, or other unforeseen issues affecting production.
- Geographic concentration of manufacturing in northern India creates region-specific exposure.
- Changes to import rules or duties on inputs and equipment, and duties or restrictions on exports.
- A decline in product demand within Uttar Pradesh.
- Shortages or inconsistent quality of materials and components, and volatility in their prices.
- Slower demand across the company’s primary product lines.
- Adverse movements in foreign exchange rates.
- Intense competition from other solar product manufacturers.
For all the insights on Fujiyama Power Systems IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Fujiyama Power Systems IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When is the Fujiyama Power Systems IPO opening?
Fujiyama Power Systems IPO opens on November 13, 2025 and closes on November 17, 2025. The basis of allotment is expected on November 18, 2025, refunds and Demat credit on November 19, 2025, and the shares are slated to list on the BSE and NSE on November 20, 2025.
2. What is the price band, lot size, and minimum investment for retail investors?
The price band is ₹216 to ₹228 per share, and the lot size is 65 shares. At the cap price, the minimum retail application is one lot costing ₹14,820, and bids must be in multiples of 65 shares.
3. How big is Fujiyama Power Systems IPO issue and what is its structure?
Fujiyama Power Systems IPO total issue size is ₹828 crore, comprising a fresh issue of 2.63 crore shares aggregating to ₹600 crores and an offer for sale of 1 crore shares aggregating to ₹228 crores.
4. How will the company use the net proceeds?
The company plans to allocate fresh issue proceeds for ₹180 crores to partly fund a new manufacturing facility at Ratlam, Madhya Pradesh, and ₹275 crores to repay and/or prepay certain outstanding borrowings.
Author: All Content is verified by SMC Global Securities.
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