IPO Details
Bidding Dates
13 Nov 25 - 17 Nov 25
Price Range ₹
216 - 228
Total Equity
₹ 600.72Cr
Lot Size
65
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
1.00×
Qualified Institutional Buyers
5.15×
Employees
1.47×
Retail Investors
1.00×
Total subscription Rate
2.14×
IPO Timeline
Offer start
13 Nov 2025
Offer end
17 Nov 2025
Allotment
18 Nov 2025
Refund initiation
19 Nov 2025
Demat transfer
19 Nov 2025
Listing
20 Nov 2025
Offer start
13 Nov 2025
Offer end
17 Nov 2025
Allotment
18 Nov 2025
Refund initiation
19 Nov 2025
Demat transfer
19 Nov 2025
Listing
20 Nov 2025
About Company
Fujiyama Power Systems Limited, founded in 2017, is a prominent player in the rooftop solar segment with a diverse portfolio of over 500 SKUs and a strong presence across India through its vast distribution and franchise network. The company reported a remarkable 67% revenue and 245% net profit growth in FY25, serving domestic and international clients with advanced solar inverters, panels, batteries, and related products. Backed by four ISO-certified manufacturing units, it also exports to markets like the US, Bangladesh, and the UAE.The company serves customers via an extensive distribution network with over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees trained to understand customer needs and supply customized solar systems. Additionally, we have over 602+ qualified service engineers providing maintenance and technical support.The company offers a wide range of products, including solar PCUs, off-grid, on-grid, and hybrid inverters, solar panels, PWM chargers, other battery chargers, lithium-ion and tubular batteries, online and offline UPS systems, solar management units, and charge controllers.The company has four manufacturing facilities in Greater Noida, Uttar Pradesh, Parwanoo, Himachal Pradesh, Ba2017wal, Haryana and Dadri, UP.
Year Founded
29-11-2017
Promotor Details
Pawan Kumar Garg
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.84 | 86.77 |
| Share Capital | 279615270 | 265865270 |
Offer to Public
2,63,47,221.00 Cr
Highlights
- Strong topline and profit expansion, reflecting surging demand and excellent execution.
- Consistent improvement in margin metrics, aided by scale and technology.
- 725+ distributors, 5,500+ dealers, and a dedicated franchise service footprint.
- ISO 9001, 14001, 45001 across manufacturing drives process and brand confidence.
- Government push for renewables and solar adoption fuels long-term demand.
Challenges
- Post-issue P/E near 26x is in line or slightly above sector averages, limiting immediate "listing gains".
- 75%+ of key inputs sourced from China and abroad, exposing the business to geopolitical and supply risks.
- Part of IPO is offer-for-sale, reducing overall capital inflow for company growth.
- Heavy focus on solar panels/batteries means financials are vulnerable to policy, pricing, and tech shifts.
- Current manufacturing is North India-centric, raising risks from local disruptions until new plants are operational.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2025 | 10,139.59 | 280.10 | 453.03 | 453.03 | 1.6196 |
| 2023 | 5,145.63 | 1,225.33 | 243.66 | 243.66 | 1.5661 |
| 2024 | 6,096.41 | 245.37 | 243.66 | 243.66 | 1.5661 |
| 2022 | 3,993.12 | 1,225.33 | 285.43 | 285.43 | 1.8345 |