Fujiyama Power Systems IPO: Price, Analysis, Allotment, And GMP

Fujiyama Power Systems IPO - Company Analysis

Fujiyama Power Systems IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 828 Cr by Fujiyama Power Systems Ltd., founded in 2017. The company is produces solar inverters, EV chargers, lithium-ion batteries, and renewable energy equipment under the Fujiyama brand.

The company specializes in smart energy solutions and sustainable power. Both residential and commercial customers are served by it. Lithium-ion battery packs, solar UPS systems, hybrid inverters, and EV chargers are all available from Fujiyama Power Systems.

Fujiyama takes advantage of India's Clean Energy and Electric Mobility. Fujiyama Power Systems is expanding in EV and solar energy markets with increased demand, emerging as a leader in EVs and solar energy markets.

Fujiyama Power Systems IPO Details

The Fujiyama Power Systems Ltd IPO open date is from Nov 13 to Nov 17, with IPO allotment on Nov 18, refund initiation on Nov 19, 2025.

The Rs. 828 Cr mainline IPO comprises a combination of fresh issue of 2.63 crore shares (Rs. 600 Cr) and an offer for sale of 1 crore shares (Rs. 228 Cr).

The Fujiyama Power Systems IPO listing date might be on Thursday, 20 November 2025, and it will be listed at the BSE and NSE. The Fujiyama Power Systems IPO price band is Rs. 216 to Rs. 228 for each Share. 

Events	Date
IPO Opening Date	November 13, 2025
IPO Closing Date	November 17, 2025
IPO Allotment Date	November 18, 2025 (Tentative)
Refund Initiation	November 19, 2025 (Tentative)
Tentative IPO Listing Date	November 20, 2025

 

Industry Outlook

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Financial

(Amount in Cr)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	1,013.96	609.64	514.56
Total Income	1,550.09	927.20	665.33
PAT	156.34	45.30	24.37
EBITDA	248.52	98.64	51.60
Net Worth	396.82	239.54	193.08
Reserves and Surplus	368.81	215.00	70.55
Total Borrowing	346.22	200.19	211.14

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	FY25	FY24	FY23
Net Cash Flow Operating Activities	181.37	854.59	778.81
Net Cash Flow Investing Activities	(1,181.25)	(445.92)	(1,323.05)
Net Cash Flow Financing Activities	1,039.99	(367.64)	545.03

 

(Source RHP)

The Objective of The Issue

• Paying a portion of the establishment costs of the manufacturing plant in Ratlam, Madhya Pradesh, India. ~ Rs. 180 Cr.

• Repayment and/or prepayment of all or a portion of some outstanding loans that our company has taken out. ~ Rs. 275 Cr.

• General corporate purposes.
  
  

Click to check the IPO application status.

Listed Peers of Fujiyama Power Systems  Ltd.

Company Name	Face Value (₹)	EPS (₹)	P/E Ratio (x)
Waaree Energies Ltd.	10	68.24	49.04
Premier Energies Ltd.	1	21.35	47.91
Exicom Tele Systems Ltd.	10	-9.11	NA
Insolation Energy Ltd.	1	5.95	31.68

 

Valuation

KPI	Values
ROE	39.40%
ROCE	41.01%
Debt/Equity	0.87
RoNW	39.40%
PAT Margin	10.15%
EBITDA Margin	16.13%
Price to Book Value	16.09

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IPO's Strengths

• The company has established a prominent position in the EV field and the renewable energy equipment industry.

• Revenue and profit growth between FY23 and FY25 is a positive indicator.

• The company has made backward integration in the form of battery manufacturing.

• The company has a growing dealer and distribution network within India.

• The company has an in-depth management team and power electronics industry know-how.

IPO Weaknesses

• Manufacturing may be slowed down by the company's heavy reliance on imported raw materials (electronic parts and lithium).

• The company's profit margins may be impacted by the volatility of metal and battery pricing.

• Operations are exhausting working capital.

• There is increasing competition especially in India and China. 

 

Fujiyama Power Systems IPO GMP

Fujiyama Power Systems IPO GMP today is Rs. 0 as of 10 Nov 2025, while writing this information.

Fujiyama Power Systems Limited IPO Summary

IPO Opening & Closing Date	Nov 13, 2025 to Nov 17, 2025
Face Value	Rs. 1 per Share
Issue Price	Rs. 216 to Rs. 228
Lot Size	65 Shares
Issue Size	3,63,15,789 Shares (Rs. 828 Cr)
Offer for Sale	1,00,00,000 Shares (Rs. 228 Cr)
Fresh Issue	2,63,15,789 Shares (Rs. 600 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 

Fujiyama Power Systems IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (65 Shares) amounting to Rs. 14820 and 13 Lots (845 Shares) amounting to Rs. 192660, respectively, while for S-HNI investors, the minimum Lot is 14 (910 Shares) amounting to Rs. 207480.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	67 Lots
BHNI (Minimum)	68 Lots

Fujiyama Power Systems IPO Reservation

Institutional Share Portion	50%
Retail Investors' Share Portion	35%
Non-Institutional Shares Portion	15%

 

Fujiyama Power Systems IPO Allotment Status

To check the Fujiyama Power Systems IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Fujiyama Power Systems  Ltd.

• Pawan Kumar Garg

• Yogesh Dua

• Sunil Kumar.
  
  

Fujiyama Power Systems IPO Lead Managers

• Motilal Oswal Investment Advisors Ltd.

• SBI Capital Markets Ltd.  

 

Dividend Policy

The company has not paid a dividend in the past three financial years.

 

 

Conclusion

Fujiyama Power Systems Ltd. stands to gain from evolving trends in India's EV and renewable energy verticals. With consistent profits and reasonable pricing, the expansion of their facilities makes this SME IPO a potential candidate. One must consider the competitive dynamics of the industry. Overall, Fujiyama Power Systems IPO is weighted for long-term holders and is priced aggressively for the potential growth it offers.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.