Fujiyama Power Systems Limited, founded in 2017, is a key player in the rooftop solar industry, providing on-grid, off-grid, and hybrid solar solutions. With a vast portfolio of over 522 products including inverters, panels, and batteries, the company reduces reliance on other manufacturers. It operates through an extensive network of 725+ distributors, 5,546+ dealers, and 1,100+ franchise “Shoppes,” supported by 602+ service engineers. Products are manufactured across four facilities in North India, all ISO-certified for quality, environmental, and safety standards. The company also exports to markets like the USA, Bangladesh, and the UAE.

Fujiyama Power Systems Limited, also known as UTL Solar, is launching a Book Built Initial Public Offering (IPO) to raise approximately ₹828 crores. The issue comprises a fresh issue of ₹600 crores and an offer for sale of up to 1 crore equity shares with a face value of ₹1 each. The IPO opens on November 13, 2025, and closes on November 17, 2025, with a price band of ₹216 to ₹228 per share.

The allotment is scheduled for November 18, 2025, and the shares are set to list on both BSE and NSE on November 20, 2025. The investor allocation is divided as 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI). The company has demonstrated strong financial performance, with revenue increasing significantly from ₹927.20 crores in 2024 to ₹1,550.09 crores in 2025, while profits grew substantially from ₹45.30 crores to ₹156.34 crores during the same period.

Fujiyama Power Systems IPO Details

IPO Date	November 13, 2025 to November 17, 2025
Listing Date	[.]
Face Value	₹1 per share
Issue Price Band	₹216 to ₹228 per share
Issue Price Final	₹228 per share
Lot Size	65 Shares
Total Issue Size	Approx ₹828 Crores
Fresh Issue	Approx ₹600 Crores
Offer for Sale	Approx 1,00,00,000 Equity Shares
Issue Type	Book building IPO
Listing At	BSE, NSE
Share Holding Pre Issue	28,00,95,145 shares
Share Holding Post Issue	30,64,10,934 shares

Fujiyama Power Systems IPO Dates

The Fujiyama Power Systems IPO is set to launch on November 13, 2025, and will remain open until November 17, 2025.

IPO Open Date	Thu, Nov 13, 2025
IPO Close Date	Mon, Nov 17, 2025
Tentative Allotment	Tue, Nov 18, 2025
Refunds	Wed, Nov 19, 2025
Credit of Shares to Demat	Wed, Nov 19, 2025
Tentative Listing Date	Thu, Nov 20, 2025
UPI Mandate Confirmation Deadline	5 PM on Mon, Nov 17, 2025

Fujiyama Power Systems IPO Market Lot

The public offering stipulates a market lot of 65 shares, requiring a minimum application amount of ₹14,820. Eligible retail investors are permitted to subscribe to a maximum of 13 such lots, translating to 845 shares and a cumulative investment of ₹1,92,660.

Application	Lot Size	Shares	Amount
Retail Minimum	1	65	₹14,820
Retail Maximum	13	845	₹1,92,660
S-HNI Minimum	14	910	₹2,07,480
S-HNI Maximum	67	4,355	₹9,92,940
B-HNI Minimum	68	4,420	₹10,07,760

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Fujiyama Power Systems IPO Details: Dates, Price & Market Outlook