Fujiyama Power Systems IPO Day 1: Check live subscription status, price band, key dates and more

Fujiyama Power Systems IPO: The initial public offering of rooftop solar solutions provider Fujiyama Power Systems Ltd opened for public subscription on Thursday, November 13. The issue, which has set a price band of ₹216 to ₹228 per share, will conclude on November 17.

The initial share sale aims to raise ₹828 crore by fresh issuance of ₹600 crore and an offer for sale of ₹228 crore by promoters Pawan Kumar Garg and Yogesh Dua.

The fresh issue proceeds will be utilised for part-financing the establishment of a manufacturing facility in Madhya Pradesh's Ratlam, debt clearance and general corporate purposes.

Fujiyama Power Systems IPO Day 1: Subsciption status

The subscription details will be available post 10 am.

Fujiyama Power Systems IPO: Lot size

A lot consists of 65 shares and in multiples thereafter. Half of the net offer has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors.

Before the IPO, the company raised ₹247 crore from anchor investors, including Nippon India Mutual Fund (MF), Tata MF, ValueQuest -- Investment Advisors, BNP Paribas, Societe Generale, Astorne Capital, Citigroup Global Markets Mauritius and LC Pharos Multi Strategy Fund.

As per the BSE circular, the company allocated more than 1.08 crore shares at an offer price of ₹228 per share, raising ₹246.89 crore.

Fujiyama Power Systems (UTL Solar), in a public announcement on Wednesday, said it raised ₹75 crore in a pre-IPO round from ValueQuest India GIFT Fund and VQ FasterCap Fund II with promoters selling around a 1.2% stake in the company.

Fujiyama Power Systems IPO: Key dates

Greater Noida-based Fujiyama Power Systems Limited is a manufacturer of products and solutions provider in the rooftop solar industry. It makes on-grid, off-grid and hybrid solar systems. The company operates through its brands 'UTL Solar' and Fujiyama Solar.