Fujiyama Power Systems IPO Sees Strong Demand in Rooftop Solar Market

Fujiyama Power Systems' IPO, focusing on rooftop solar, was oversubscribed by 2.14 times, raising Rs 828 crore. Institutional and retail investors showed strong interest. The company raised Rs 247 crore from anchor investors ahead of the IPO, highlighting its financial gains and market reputation.

Fujiyama Power Systems, a leading rooftop solar solutions provider, reported overwhelming demand for its initial public offering (IPO), which was subscribed 2.14 times by the conclusion of its final day on Monday.

The Rs 828-crore IPO was well-received, with bids for 5,63,26,400 shares compared to the 2,63,47,221 shares available, as per the NSE data. Demand was particularly strong among qualified institutional buyers, who subscribed 5.15 times over their reserved shares. Non-institutional investors' and retail investors' categories were also fully subscribed.

Fujiyama, based in Greater Noida, raised Rs 247 crore from anchor investors before the IPO. Its financial performance has been notable, with a revenue increase to Rs 1,540.67 crore in FY25 from Rs 664.08 crore in FY23 and a substantial boost in net profit. The company's shares will be listed on the BSE and NSE, with the IPO managed by Motilal Oswal Investment Advisors Ltd, SBI Capital Markets, and MUFG Intime India.

(With inputs from agencies.)