About Fujiyama Power Systems Limited
The company Fujiyama Power Systems Limited, established in 2017, is a leading company in the renewable energy sector, specializing in manufacturing solar power generation systems, power backup solutions, and power supply systems. The company actively contributes to India’s growing renewable energy infrastructure with a focus on advanced manufacturing technologies like TOPCon solar panels, lithium-ion batteries, and hybrid solar systems. It is based out of Delhi and Greater Noida, Fujiyama Power aims to capitalize on government initiatives promoting solar rooftop installations and off-grid solar solutions for remote areas.
IPO Details at a Glance
| Aspect | Information |
|---|---|
| IPO Issue Size | ₹27,000 million (Fresh Issue ₹7,000 million + Offer for Sale) |
| Price Band | ₹100 – ₹110 per equity share |
| Lot Size | 135 shares |
| IPO Open Date | November 15, 2025 |
| IPO Close Date | November 19, 2025 |
| Allotment Date | November 25, 2025 |
| Listing Date | November 29, 2025 |
| Registrar | Link Intime India Pvt Ltd |
| Grey Market Premium (GMP) | ₹7 – ₹9 (approximate, subject to market conditions) |
The IPO consists of a Fresh Issue for capacity expansion and Offer for Sale by existing shareholders.
Financial Summary (in ₹ million)
| Particulars | FY 2022 | FY 2023 | FY 2024 | H1 FY 2025 |
|---|---|---|---|---|
| Revenue from Operations | 5,068.38 | 6,640.83 | 9,246.88 | 7,217.35 |
| Profit Before Tax | 395.52 | 314.76 | 626.02 | 1,010.02 |
| Profit After Tax | 285.43 | 243.66 | 453.03 | 750.90 |
| Earnings per Share (Basic, ₹) | 11.63 | 9.93 | 18.46 | 30.60 |
| Total Assets | 3,999.12 | 5,145.63 | 6,096.41 | 7,280.49 |
| Equity Share Capital | 136.48 | 136.48 | 245.37 | 245.37 |
Business and Growth Prospects
Fujiyama Power company is poised for growth driven by increasing adoption of renewable energy in India. It focuses on innovation in solar products, including hybrid solar systems that combine grid connectivity with energy storage. The company plans significant capacity expansions with proceeds from the IPO to scale its manufacturing facilities in Greater Noida and new projects in Madhya Pradesh. Since supported by favorable government policies and subsidies, Fujiyama aims to boost market penetration across India.
Broker Recommendations
| Broker | Rating | Target Price (₹) | Key Comments |
|---|---|---|---|
| ICICI Securities | Buy | 135 | Strong growth potential backed by expanding capacity |
| Kotak Securities | Positive | 130 | Good fundamentals and favorable government support |
| Axis Capital | Accumulate | 128 | Attractive valuations with rising renewable energy demand |
| Motilal Oswal | Hold | 120 | Moderately priced; watch for sector volatility |
This IPO represents a great opportunity to invest in a company at the forefront of India’s solar power manufacturing sector, combining strong financials, robust growth potential, and a well-structured issue.
