Fujiyama Power Systems IPO opens today: Check GMP, brokerage review, subscription and other details
Well, here we are—another solar IPO riding the renewable energy hype wave, except this time the grey market is giving it the cold shoulder with a flat 0% GMP. Nothing screams 'investor confidence' quite like absolute market indifference on day one, but hey, at least Fujiyama Power Systems has the backing of marquee names like Nippon India MF and Tata MF who collectively shoveled ₹247 crore into the anchor book. The real question isn't whether this rooftop solar solutions provider will list—it will—but whether retail investors will show up with genuine interest or just chase the hype.
Fujiyama Power Systems, a Noida-based rooftop solar manufacturer, opened its ₹828 crore IPO on November 13, 2025, running through November 17. The company is issuing fresh shares worth ₹600 crore and offering ₹228 crore in secondary shares at a price band of ₹216–₹228 per share, with a minimum investment of ₹14,820 for a lot of 65 shares. The capital will fund a new manufacturing facility in Ratlam, Madhya Pradesh (₹180 crore), repay borrowings (₹275 crore), and cover general corporate purposes (₹145 crore). Share allotment is scheduled for November 18, with listing on BSE and NSE on November 20, 2025.
