Fujiyama Power Systems (UTL Solar) IPO GMP Remains Flat As Mainboard Offer Opens; Check Details
UTL Solar IPO: The price band for the mainboard IPO has been set at Rs 216-Rs 228 per share.
Fujiyama Power Systems Ltd. will launch its initial public offering (IPO) to raise over Rs 800 crore from the primary market on Thursday, November 13.
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) indicates a flat listing for the company’s shares.
Here's a look at the latest GMP and other key details of the Fujiyama Power Systems IPO.
Fujiyama Power Systems IPO GMP Today
According to InvestorGain, GMP for the Fujiyama Power Systems IPO was Rs 0 as of 9:30 a.m. on November 13, 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. GMP data based on InvestorGain.
Fujiyama Power Systems IPO
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.
The price band for the IPO has been fixed between Rs 216 and 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. 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.
Motilal Oswal Investment Advisors is the book-running lead manager and MUFG Intime India is the registrar of the issue.
The subscription window for the IPO will remain open from November 13 to November 17. The IPO share allotment status is expected to be finalised on November 18. 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 company's shares are scheduled to be listed on the BSE and NSE on November 20.
Use Of Proceeds
The company has proposed to use proceeds from the IPO to finance a manufacturing facility, clear debt, and for general corporate purposes.
About Fujiyama Power Systems
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.
Financials
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.
