The public issue, which ran from November 13 to November 17, comprises a fresh issue of Rs 600 crore and an offer for sale of Rs 228 crore. The company raised Rs 246.90 crore from anchor investors on November 12.
On the subscription front, the IPO was subscribed 2.21 times overall. QIBs led with 5.24 times subscription, indicating strong institutional conviction. Retail participation was modest at 1.05 times, while the NII category remained under-subscribed at 0.92 times. Total applications stood at 1,44,965, showing healthy but not aggressive demand.
Here is how investors can check their allotment status:
Registrar’s website (MUFG Intime India)
Visit https://www.mufgintime.com/ipo/
Select Groww (Billionbrains Garage Ventures ) from the dropdown.
Enter your PAN or application number and click on Submit to view allotment status.
On the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
Choose Equity, select Groww and enter your application details or PAN.
You will be able to see if shares have been allotted to you.
Company overview
Fujiyama Power Systems operates in the rooftop solar and clean-energy solutions space. Its product portfolio spans 522 SKUs, including hybrid and on-grid inverters, solar panels, lithium-ion batteries, charge controllers, PCUs and energy-storage systems.
The company has an extensive distribution chain of 725 distributors, 5,546 dealers, 1,100 exclusive Shoppes, and over 602 service engineers. It has four manufacturing facilities located across Uttar Pradesh, Himachal Pradesh and Haryana.
The company also exports to the USA, Bangladesh, UAE and other Asian markets. It positions itself as a single-stop solutions provider with ISO-certified manufacturing and decades of legacy in certain product lines.
Financials
Fujiyama posted strong growth in FY25, with revenues rising 67% to Rs 1,550.09 crore and PAT jumping 245% to Rs 156.34 crore. EBITDA more than doubled to Rs 248.52 crore, supported by operating efficiency and product expansion.
IPO proceeds will be used for setting up a new plant in Ratlam (Rs 180 crore), repaying borrowings (Rs 275 crore) and general corporate purposes.
Listing outlook
With a 0% GMP, the market is pricing in a flat or near-flat listing, though QIB interest may provide downside cushioning. The final listing price will depend on broader market conditions and sector sentiment ahead of November 20.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
