Fujiyama Power (UTL Solar) IPO: Check Allotment Status, GMP And Listing Date

The initial public offering (IPO) of Fujiyama Power Systems Ltd. closed with a robust subscription on the last day of bidding on Monday.

After the successful subscription, investors are awaiting the finalisation of the IPO share allotment status. Fujiyama Power Systems is expected to finalise the allotment status for the IPO on Tuesday, November 18.

The IPO of the Noida-based manufacturer of solar industry products was oversubscribed 2.14 times, with investors bidding for over 56 crore shares against 26.34 crore shares on offer.

QIBs led the demand for the public issue, subscribing 5.15 times. Non-institutional investors subscribed 0.88 times, whereas retail investors' portion was subscribed 1 time.

According to the latest grey market trends, the GMP for the mainboard offer continues to indicate marginal gains, if not a flat listing for the company’s shares. 

1.  Open the BSE IPO allotment page here - https://www.bseindia.com/investors/appli_check.aspx.

2.  Select ‘Equity’ as the issue type. 

3.  Choose "Fujiyama Power Systems Ltd." from the dropdown menu. 

4.  Enter details for any of these two options: PAN and application number.

5.  Complete the Captcha verification.  

6.  Hit the ‘Search’ button to view your allotment status.

• Visit the IPO allotment status page on the NSE website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Select ‘Equity & SME IPO bid details’.

• Select "UTLSOLAR" as the issue symbol.

• Enter PAN and Application Number.

• Click on the ‘Submit’ button. 

1. Visit the IPO allotment status page on the MUFG Intime website - https://in.mpms.mufg.com/Initial_Offer/public-issues.html.

2. Select "Fujiyama Power Systems Ltd." from the dropdown list for company names.

3. Choose your preferred search method – Application Number, DP/Client ID, PAN, or Account/IFSC.

4. Enter the relevant details as per your selection.

5. Complete the CAPTCHA verification.

6. Click Submit to view your allotment status.

The latest grey market premium for the Fujiyama Power IPO was Rs 1.5 as on Tuesday, indicating a 0.66% premium over the IPO price band.

This means that the unlisted shares of the company were trading at Rs 229.5 in the private market. Investors who are successfully allotted the company's shares can expect a marginal gain of up to 1% when the stock debuts this week.

This is the highest GMP recorded for the IPO since the launch of the public offer, when it was Rs 0.

Shares of Fujiyama Power Systems IPO Ltd. are tentatively scheduled to be listed on the BSE and NSE on Thursday, November 20.

The company will transfer shares to the demat accounts of successful bidders on November 19, and refunds to non-allottees will also be processed on the same day.

The Fujiyama Power Systems IPO is a book-building issue of Rs 828 crore. It comprised 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.

The price band for the IPO was set at Rs 216 to Rs 228 per share.

To participate in the IPO, retail investors needed to bid for at least one lot size of 65 shares, amounting to a minimum investment of Rs 14,820.

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

The company has proposed using 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 product portfolio includes over 522 SKUs, covering solar inverters, solar panels, and inverter battery (lithium-ion), online UPS, offline UPS, Solar management units, among others.

They serve customers through a PAN-India network of over 725 distributors, 5,546 dealers, and 1,100 exclusive UTL (Shoppe) franchisees.

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.