Fujiyama Power Systems shares listed at Rs 220 on the National Stock Exchange, a discount of 3.5%. On the BSE, the stock listed at a discount of 4.2% at Rs 218.40. The company set the IPO cut-off at Rs 228 per equity share.
Fujiyama Power Systems IPO: Key details
The company raised Rs 828 crores by going public. The IPO was a mix of 2.63 crore fresh shares, aggregating to Rs 600 crores and an offer for sale of 1 crore shares, amounting to Rs 228 crores. The company opened the IPO subscription on November 13 and closed it on November 17. The allotment for IPO was finalised on November 18.
Fujiyama Power Systems IPO: Book runner and registrar
Motilal Oswal Investment Advisors is the book-running lead manager for the IPO, and MUFG Intime India is the registrar of the issue.
About Fujiyama Power Systems
Fujiyama Power Systems is in the business of manufacturing products and providing solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. The company has designed an extensive product portfolio of over 522 SKUs, including solar inverters, panels, and batteries, to reduce customer reliance on alternative OEMs.
The company serves customers via an extensive distribution network with over 725 distributors, 5,546 dealers, and 1,100 exclusive “Shoppe” franchisees trained to understand customer needs and supply customised solar systems.
