Fujiyama Power Systems IPO – Subscription Day 3
Fujiyama Power Systems IPO Subscription Day 3 – Latest Update, Review & Allotment
Educational analysis by Money Bells Research Analyst (SEBI RA – INH100009901)
Table of Contents
- Introduction
- Day 3 Subscription Status
- IPO Details & Key Dates
- Company Overview
- Financial Performance
- Strengths
- Risks
- Should You Apply?
- Disclosure
➜ Introduction
Fujiyama Power Systems Ltd. is operating in India's rooftop solar, power electronics and battery technology space. In November 2025, the company launched its IPO with strong expectations from investors due to the clean-energy boom and rising demand for rooftop solar projects.
➜ Day 3 Subscription Status
On Day 3 of the IPO, the subscription demand remained modest:
- The issue was subscribed to ~40% of the total 2.63 crore shares.
- There is no visible Grey Market Premium (GMP) indicating low speculative interest.
- Weak demand may be due to concerns related to valuation and sector competition.
This subscription pattern shows that investors are cautious, especially since several IPOs before this one saw heavy oversubscription.
➜ IPO Details & Key Dates
| Detail | Information |
|---|---|
| IPO Open Date | 13 November 2025 |
| IPO Close Date | 17 November 2025 |
| Price Band | ₹216 – ₹228 per share |
| Issue Size | ₹828 crore |
| Lot Size | 65 shares |
| Allotment Date | 18 November 2025 |
| Listing Date | 20 November 2025 |
➜ Company Overview
Fujiyama Power Systems manufactures a wide portfolio of power and solar-related products, including:
- Rooftop Solar Panels
- On-grid / Off-grid / Hybrid Inverters
- Lithium-ion & Lead-acid Batteries
- UPS Systems & Power Storage Solutions
The company operates manufacturing units in Greater Noida, Parwanoo, Bawal and is expanding into Ratlam, Madhya Pradesh.
➜ Financial Performance
Fujiyama has shown improvement in top-line and bottom-line numbers in FY 2025:
| Metric | Value (Approx) |
|---|---|
| FY 2025 Revenue | ₹1,550.09 crore |
| FY 2025 PAT | ₹156.34 crore |
| Revenue Growth | ~67% |
| PAT Growth | ~245% |
*Based on publicly available market data.
➜ Strengths
- Strong presence in rooftop solar and power electronics segment.
- Diversified product range from solar panels to energy storage.
- Large distributor-dealer network across India.
- Expanding production capacity with new facilities.
➜ Risks
- Low subscription levels and zero GMP reduce listing gain expectations.
- High competition in solar and inverter markets.
- Import dependency for raw materials can impact margins.
- IPO valuation appears premium vs peers.
➜ Should You Apply?
Given the current subscription trend and absence of Grey Market Premium, the IPO does not appear strong for short-term listing gains.
If applying, investors should treat it as a long-term opportunity based on sector growth and future performance, rather than short-term profits.
➜ Disclosure (SEBI Compliance)
Disclaimer: This article is for educational purposes only. Money Bells Global Research Services Pvt. Ltd. (SEBI RA – INH100009901) does not provide any buy/sell recommendation. IPO investments carry market and valuation risks. All information is sourced from publicly available data.
Copyright Note: This article is original content created exclusively for Money Bells.
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