Fujiyama Power IPO GMP, Price, Allotment, Profit Estimate 2025

Fujiyama Power IPO Description – Fujiyama Power Systems is a leading Indian manufacturer and solution provider in the rooftop solar industry, offering over 500 SKUs across solar panels, inverters (on-grid, off-grid, hybrid), lithium-ion, and lead-acid batteries. The company operates three manufacturing facilities in Greater Noida, Parwanoo, and Bawal, with an annual capacity of 5,40,800 solar panels, 2,87,925 inverters, 3,04,128 tubular batteries, and 2,19,648 e-rickshaw chargers (FY24).

As of 30 September 2024, Fujiyama has sold 1.23 million solar panels (458.14 MW), 6,31,331 inverters (1,065.83 MW), and 8,52,757 batteries (1,672.17 MWh), contributing to over 1 GW+ of rooftop installations nationwide. Recognized as India’s largest off-grid inverter company (Sigma Summit 2019), Fujiyama holds certifications from MNRE, BIS, and SNAs. With a new integrated facility planned in Ratlam, the company aims to double its capacity and expand further in western and southern India.

Fujiyama’s brands, UTL Solar and Fujiyama Solar, have strong market recall, with UTL Solar having a 28-year legacy. The company supports an extensive distribution network of 480+ distributors, 3,600 dealers, and 1,000 UTL “Shoppe” franchisees, backed by 400+ service engineers. Its innovations include India’s first SMT-based single-card inverter and patented rMPPT technology.

Promoters of Fujiyama Power Systems – Pawan Kumar Garg, Yogesh Dua, and Sunil Kumar

UTL Solar IPO Details

UTL Solar IPO Dates	13 – 17 November 2025
UTL Solar IPO Price	Coming soon
Fresh issue	INR 600 crore
Offer For Sale	1,00,00,000 shares
Total IPO size	Coming soon
Minimum bid (lot size)	Coming soon
Face Value	INR 1 per share
Retail Allocation	35%
Listing On	NSE, BSE

Fujiyama Power Financial Performance

	FY 2022	FY 2023	FY 2024	H1 FY 2025
Revenue	506.84	664.08	924.69	721.74
Expenses	468.57	633.85	864.60	623.09
Net income	28.02	24.95	45.30	75.04
Margin (%)	5.53	3.76	4.90	10.40

Figures in INR Crores unless specified otherwise

Fujiyama Solar IPO News

Fujiyama Power Valuations & Margins

	FY 2022	FY 2023	FY 2024 (Pre-Issue)	FY 2025 (Post-Issue)*
EPS	1.02	0.87	1.61	2.67
PE Ratio	–	–	–	–

* Calculated on the basis of annualized Profits After Tax for FY 2025

	FY 2022	FY 2023	FY 2024
RONW (%)	15.76	12.62	18.91
NAV	6.47	6.90	8.56
ROCE (%)	16.81	26.60	26.47
EBITDA (%)	8.74	7.77	10.67
Debt/Equity	1.09	0.84	0.48

*Compiled by IPO Central from Prospectus

Fujiyama Power IPO GMP Today (Daily Trend)

Fujiyama Solar IPO Objectives

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh
Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company
General corporate purposes

Fujiyama Power IPO Subscription – Live Updates

Coming soon

NA shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.

Fujiyama Power – Comparison With Listed Peers

Company	PE ratio	EPS	RONW (%)	NAV	Revenue (Cr.)
Fujiyama Power	–	1.61	18.91	8.56	924.69
Waaree Energies	45.11	47.86	30.82	157.26	11,397.61
Premier Energies	159.32	5.48	36.69	23.94	1,019.56

Fujiyama Power IPO Allotment Status

Fujiyama Power IPO allotment status will be available on MUFG Intime’s website. Click on the MUFG Intime IPO weblink to get allotment status.

UTL Solar IPO Dates & Listing Performance

IPO Opening Date	13 November 2025
IPO Closing Date	17 November 2025
Finalization of Basis of Allotment	18 November 2025
Initiation of refunds	19 November 2025
Transfer of shares to demat accounts	19 November 2025
Fujiyama Power IPO Listing Date	20 November 2025
Opening Price on NSE	Coming soon
Closing Price on NSE	Coming soon

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Fujiyama Power Offer Lead Manager

MOTILAL OSWAL INVESTMENT ADVISORS LIMITED
Motilal Oswal Tower, Rahimtullah Sayani Road,
Opposite Parel ST Depot, Prabhadev, Mumbai – 400 025
Telephone: +91 22 7193 4380
Email: [email protected]
Website: www.motilaloswalgroup.com

Fujiyama Power Offer Registrar

MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com

FUJIYAMA POWER SYSTEMS LIMITED
Plot No. 51-52, Sector Ecotech-1,
Ecotech extension-1, Greater Noida,
Gautam Buddha Nagar – 201310, Uttar Pradesh
Phone: +91 11 41055305
Email: [email protected]
Website: www.utlsolarfujiyama.com

Fujiyama Power IPO FAQs

How many shares in the Fujiyama Power IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply for Fujiyama Power Systems Public Offer?

The best way to apply for the Fujiyama Power public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.