These anchor investors will receive Rs. More than 1.08 crore equity shares have been allotted at a price of 228. Of this, over 56.66 lakh equity shares i.e., 52.33% of the total allotment were allotted to 2 domestic mutual funds, who have applied through a total of 6 schemes.
Anchor Quota’s largest position was Nippon India Mutual Fund cornered by two funds. Nippon Life India Trustee Limited – A/C Nippon India Small Cap was allotted 30% shares while Nippon Life India Trustee Limited – A/C Nippon Power & Infra was allotted 10.50% shares of the anchor quota.
The four schemes of Tata Mutual Fund were collectively allotted 11.83% of the available shares in the anchor portion.
Some of the marquee institutions participating in the anchor bidding include Société Générale, Citigroup Global Markets Mauritius, StepTrade Revolution Fund, VQ FasterCap Fund II, BNP Paribas Funds Global Climate Solutions, BNP Paribas Funds Energy Transition and Astorne Capital VCC-RVEN.
In an announcement on November 12, in a pre-IPO round, Fujiyama Power Systems sold about 1.2% stake in the company along with promoters VQ FasterCap Fund II and ValueQuest India GIFT Fund for Rs. 75 crore was collected.
Fujiyama Power Systems IPO GMP:
The company was not commanding any premium around 9 pm on Wednesday.
Fujiyama Power Systems IPO Details
The IPO, which will close on Monday, November 17, 2025, is priced at Rs. 600 crore is a new issue and Rs. 228 crore is an offer-for-sale (OFS). At the upper end of the IPO price band is Rs. 828 crore will get.
Investors can bid for a minimum of 65 equity shares and thereafter in multiples of 65 equity shares.
The offer is being made through a book-building process, wherein not more than 50% of the net offer is allotted to qualified institutional buyers, and not more than 15% and 35% of the net offer is allotted to non-institutional bidders and retail individual bidders, respectively.
About Fujiyama Power Systems
The company is a products and solutions provider in the roof-top solar industry, including on-grid, off-grid and hybrid solar systems. It is a leading player in solar panel manufacturing, solar inverter manufacturing (covering on-grid, hybrid and off-grid solutions), and both lead acid and lithium-ion battery manufacturing. The company also supports R&D in inverter technology and provides a wide variety of solar SKUs.
The company’s brands, UTL Solar, which has a heritage of 29 years, and Fujiyama Solar.
The company has four manufacturing facilities and R&D capacity in India. The Red Herring Prospectus (RHP) states that the company has designed and developed a comprehensive product portfolio of over 522 SKUs that includes a complete range of solar inverters, solar panels and batteries.
As on June 30, 2025, the company served its customers through a pan-India distribution network of 725 distributors, 5,546 dealers and 1,100 exclusive ‘shop’ franchisees.
Fujiyama Power Systems Financial
The company’s revenue from operations during the June 2025 quarter was Rs. 597.3 crore and its net profit was Rs. 67.6 crores. During FY25, its income from operations was Rs. 1,540.6 crore against which during FY23 Rs. 664 crores.
Its net profit was Rs 156.3 crore during FY25 as against Rs 24.3 crore during FY23.
IPO Lead Manager
Motilal Investment Advisors and SBI Capital Markets are the book-running lead managers and MUFG Intime India Pvt Ltd is the registrar of the offer.
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times.)
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