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Fujiyama Power Systems’ ₹828-Crore IPO Subscribed 2.14x on Final Day

Fujiyama Power Systems, a major player in India’s rooftop solar segment, saw strong investor interest as its ₹828-crore IPO was subscribed 2.14 times on the final day. The issue received 5.63 crore bids against 2.63 crore shares on offer, driven largely by Qualified Institutional Buyers (QIBs), whose portion was subscribed 5.15 times. The non-institutional investor category saw 88% subscription, while retail participation reached full subscription. The company also raised ₹247 crore from anchor investors ahead of the issue. The IPO includes a fresh issue of shares worth ₹600 crore and an offer for sale of 10 lakh shares. Fujiyama, known for its UTL Solar and Fujiyama Solar brands, manufactures on-grid, off-grid, and hybrid rooftop solar systems. The company reported strong financial growth, with FY25 revenue at ₹1,540.67 crore and net profit rising to ₹156.33 crore. The shares will be listed on BSE and NSE.