Fujiyama Power Systems Ltd, a rooftop-solar-solutions manufacturer, has launched its initial public offering today, on 13 November 2025, aiming to raise approximately ₹828 crore through a combination of a fresh issue of around ₹600 crore and an offer-for-sale of about ₹228 crore.
The price band is set at ₹216 to ₹228 per equity share (face value ₹1 each), and investors can apply for a minimum of 65 shares. The subscription window remains open until 17 November 2025.
Anchor investors have already committed about ₹247 crore, indicating institutional confidence ahead of the public issue.
The company focuses on manufacturing and supplying rooftop solar systems (on-grid, off-grid, hybrid), with a reported revenue of around ₹1,540.7 crore and a net profit of about ₹156.3 crore in FY25.
Broker-recommendations: Some analysts suggest a ‘Subscribe for long-term’ stance, citing strong growth potential in the solar-rooftop segment, while others feel the issue is fully priced for short-term gains.
For retail investors assessing the IPO:
- Growth in rooftop solar, manufacturing capability and improving profitability are positives.
- Risks include high valuation (P/E around 40-41x FY25), dependence on raw-material imports, and sector-policy/regulatory uncertainties.
