Fujiyama Power Systems (UTL Solar) IPO: Latest GMP Signals Flat Listing Ahead Of Nov. 13 Launch

Fujiyama Power Systems Ltd. is set to launch its initial public offering (IPO) to raise over Rs 800 crore from the primary market.

The parent company operates under the brand name UTL Solar and provides products and solutions for the rooftop solar industry. They produce a variety of products, including solar panels, inverters, and batteries.

Ahead of the IPO launch, the grey market premium (GMP) indicated a flat listing for the company’s shares. 

Here's a look at the latest GMP and other key details ahead of the launch of the Fujiyama Power Systems IPO on November 13.

According to InvestorGain, GMP for the Fujiyama Power Systems IPO was nil as of 12:30 p.m. on November 12, indicating a flat listing. However, GMP trends are expected to change after the launch of the mainboard issue.  

Note: GMP does not represent official data and is based on speculation.

The Fujiyama Power Systems IPO is a book-building issue of Rs 828 crore. It comprises a fresh issue of 2.63 crore shares worth Rs 600 crore and an offer-for-sale (OFS) of one crore shares, amounting to Rs 228 crore.

To participate in the IPO, retail investors need to bid for at least a single lot size of 65 shares, amounting to a minimum investment of Rs 14,820. Small non-institutional investors need to bid for 14 lots, aggregating Rs 2,07,480. Big non-institutional investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,07,760.

The price band for the IPO has been fixed between Rs 216 and Rs 228 per share.

The subscription window for the IPO will remain open from Nov. 13 to Nov. 17. The IPO share allotment status is expected to be finalised on Nov. 18. The company will transfer shares to the demat accounts of successful bidders on Nov. 19 and refunds to non-allottees will also be processed on the same day. 

The shares of the company are scheduled to be listed on the BSE and NSE on Nov. 20.

Motilal Oswal Investment Advisors is the book-running lead manager and MUFG Intime India is the registrar of the issue.

The company has proposed to use proceeds from the IPO to finance a manufacturing facility, clear debt, and for general corporate purposes.

Fujiyama Power Systems manufactures products for the solar industry. Its major products include UPS, solar inverters, solar panels and batteries.

The company reported a 245% year-on-year (YoY) rise in net profit at Rs 156.34 crore in FY25, compared to Rs 45.3 crore in FY24. Revenue from operations grew 66.6% YoY to Rs 1,540.68 crore in FY25 from Rs 924.69 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.