Fujiyama Power Systems Makes Weak Listing: Shares Open Below IPO Price on November 20
LG Electronics India IPO Listing Date, Subscription Details & Financials 2025
Fujiyama Power Systems listed below its IPO price on November 20, with a weak debut on both BSE and NSE.
Fujiyama Power Systems listed on the stock market on 20 November.
The stock opened at ₹218.40 on the BSE, which is a 4.21% discount from the IPO price of ₹228.
On the NSE, it listed at ₹220, a 3.51% discount.
The company’s market cap at listing was about ₹6,692 crore.
Grey Market Premium vs Listing Price
Before listing, the stock was trading with a very small GMP.
According to Investorgain, the GMP was 0.22% above the IPO price.
Earlier, on the day allotments were finalised, the GMP was 1.32%, so it has fallen.
IPO Watch showed a slightly higher GMP of 0.43%.
IPO Performance
The ₹828-crore IPO saw decent demand.
It was subscribed a little over 2 times between 13–17 November.
The issue included:
- Fresh issue: ₹600 crore
- Offer for sale: 10 lakh shares worth ₹228 crore (upper price band)
- The price band was ₹216–₹228.
The company plans to use the IPO money for:
- ₹180 crore for a new plant in Ratlam, Madhya Pradesh
- ₹275 crore to repay debt
- The rest for general corporate needs
Expert View: Hold for Long Term
According to market expert Narendra Solanki, the company offers a full rooftop solar setup.
Its products include solar inverters, panels, batteries, controllers, and EV products like E-rickshaw chargers and lithium-ion batteries.
The company sells mainly through a B2C distribution network and runs four manufacturing units with in-house R&D.
At the top price band, the company is valued at around 45 times FY25 earnings.
Solanki suggests holding the stock for the long term, depending on the investor’s risk level.
