The listing of Fujiyama Power Systems (UTL Solar) Ltd. will be in focus as investors await the company's debut on the stock market.
Shares of Fujiyama Power Systems will list on the BSE and NSE on Thursday, November 20. The share allotment status for the IPO was finalised on November 18. Successful bidders were allotted shares on Wednesday, and refunds were also issued on the same day.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, shows a near flat listing. The latest grey market premium (GMP) for the Fujiyama Power Systems IPO indicates a marginal listing gain of 0.2% per share over the issue price.
The IPO of the Tamil Nadu-based manufacturer of clean air and powertrain products for automotive applications was oversubscribed 58.83 times (led by demand from QIBs), with investors bidding for over 3921 crore shares against 666.66 crore shares on offer.
Here's a look at what the latest market trends indicate for the Fujiyama Power Systems.
Fujiyama Power Systems Share Price (Expected)
The latest GMP for the UTL Solar IPO was Rs 0.5 on November 20. This means that TFujiyama Power Systems' shares are expected to list at Rs 228.5, a premium of 0.22% over the upper end of the IPO price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
About Fujiyama Power Systems IPO
The Fujiyama Power Systems IPO was 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 need to bid for at least a single 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.
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.
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