Fujiyama Power Systems’ initial public offer picked up momentum on the second day of bidding. The IPO achieved a 12% subscription by Friday morning, improving from its 9% subscription level recorded on the opening day. Investors continued to show growing interest as the issue remained open for bidding.
The company launched a book-building issue worth Rs 828 crore. It includes a fresh issue of 2.63 crore shares valued at Rs 600 crore and an offer-for-sale of one crore shares worth Rs 228 crore. The price band has been set between Rs 216 and Rs 228 per share, giving investors a clear range for participation.
Retail investors can enter the issue with a minimum lot size of 65 shares, which requires an investment of Rs 14,820. Small non-institutional investors must apply for at least 14 lots, while large non-institutional investors need to bid for 68 lots. The subscription window runs from Nov. 13 to Nov. 17. Allotment will be finalised on Nov. 18 and shares will reach demat accounts on Nov. 19, along with refunds for non-allottees.
As of 11:53 a.m., retail investors subscribed 21%, employees subscribed 25%, and non-institutional investors subscribed 8%. Fujiyama Power Systems manufactures solar industry products and reported strong financial growth in FY25, including a 245% rise in net profit.
