Fujiyama Power Systems IPO Subscription Status
Fujiyama Power Systems IPO closed on 17 November 2025 with an overall subscription of 2.21x based on shares applied. QIB demand came in at 5.24x, NII at 0.92x, and retail at 1.04x.
Allotment will be finalised on 18 November 2025. The stock is scheduled to list on NSE and BSE on 20 November 2025.
Issue Price
Rs 228.00
GMP Today
-
Overall Subscription
2.21x
Issue Size
₹828 Cr
Allotment Date
18 Nov 2025
Listing Date
20 Nov 2025
Fujiyama Power Systems IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 228.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 164.60 Cr | Rs 862.35 Cr | 5.24x |
| FII | - | Rs 491.35 Cr | - |
| DFI | - | Rs 40.00 Cr | - |
| Mutual Funds | - | Rs 164.60 Cr | - |
| Other | - | Rs 166.40 Cr | - |
| NII | Rs 123.45 Cr | Rs 113.51 Cr | 0.92x |
| bNII (above Rs 10L) | Rs 82.30 Cr | Rs 46.25 Cr | 0.56x |
| Corporate | - | Rs 6.76 Cr | - |
| Individual | - | Rs 38.45 Cr | - |
| Other | - | Rs 1.04 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 41.15 Cr | Rs 67.27 Cr | 1.63x |
| Corporate | - | Rs 54.54 L | - |
| Individual | - | Rs 64.84 Cr | - |
| Other | - | Rs 1.88 Cr | - |
| Retail | Rs 288.05 Cr | Rs 300.64 Cr | 1.04x |
| Cut-off price | - | Rs 245.32 Cr | - |
| Fixed price | - | Rs 55.32 Cr | - |
| Employee | Rs 5.00 Cr | Rs 7.75 Cr | 1.55x |
| Cut-off price | - | Rs 6.09 Cr | - |
| Fixed price | - | Rs 1.66 Cr | - |
| Total | Rs 581.10 Cr | Rs 1,284.25 Cr | 2.21x |
Fujiyama Power Systems IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 72,19,298 | 31 | 0.00x |
| FII | - | 19 | - |
| DFI | - | 1 | - |
| Mutual Funds | - | - | - |
| Other | - | 11 | - |
| NII | 5,950 | 3,276 | 0.55x |
| bNII (above Rs 10L) | 3,967 | 403 | 0.10x |
| Corporate | - | 63 | - |
| Individual | - | 330 | - |
| Other | - | 10 | - |
| sNII (Rs 2L to Rs 10L) | 1,983 | 2,873 | 1.45x |
| Corporate | - | 24 | - |
| Individual | - | 2,765 | - |
| Other | - | 84 | - |
| Retail | 1,94,366 | 1,47,094 | 0.76x |
| Cut-off price | - | 1,22,061 | - |
| Fixed price | - | 25,033 | - |
| Employee | 3,374 | 2,846 | 0.84x |
| Cut-off price | - | 2,471 | - |
| Fixed price | - | 375 | - |
| Total | 74,22,988 | 1,53,247 | 0.02x |
What Do These Subscription Numbers Mean?
A subscription of 2.21x by shares means the IPO received bids for 2 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 5.24x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 5.24x, it reflects serious institutional conviction.
NII at 0.55x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 0.10x and sNII at 1.45x by applications.
null Retail allotment is done by lottery when oversubscribed.
null Employee reservation uses the same lottery logic as retail when oversubscribed.
Fujiyama Power Systems IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail
- •Application subscription: 0.76x.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 1.45x.
- •Allotment odds: about 1 in 1 for a minimum-lot application (~69% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
BHNI (above Rs 10 lakh)
- •Application subscription: 0.10x.
Check the Fujiyama Power Systems IPO Allotment Status page from 18 November 2025 for your allotment result.
Fujiyama Power Systems IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 13 Nov 2025 | 0.00x | 0.05x | 0.16x | 0.09x |
| Day 2 - 14 Nov 2025 | 0.82x | 0.11x | 0.30x | 0.41x |
| Day 3 - 17 Nov 2025 | 5.24x | 0.92x | 1.05x | 2.21x |
Fujiyama Power Systems IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 13 November 2025 |
| IPO Close Date | 17 November 2025 |
| Allotment Date | 18 November 2025 |
| Refund Initiation | 19 November 2025 |
| Share Credit to Demat | 19 November 2025 |
| Listing Date | 20 November 2025 |
| Minimum Investment | Rs 14,820.00 |
| Lot Size | 65 shares |
About Fujiyama Power Systems IPO
Fujiyama Power Systems is a leading Indian manufacturer and solutions provider in the rooftop solar industry, operating under the established brands **UTL Solar** (29-year legacy) and Fujiyama Solar. The company provides end-to-end capabilities, including the manufacturing of on-grid, off-grid, and hybrid solar systems, panels, inverters, and batteries (both lead-acid and lithium-ion). It is a B2C focused company with a strong pan-India distribution network (725 distributors, 5,546 dealers, and 1,100 exclusive UTL Solar Shoppes).
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
Retail - Retail Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Fujiyama Power Systems IPO GMP Today
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Fujiyama Power Systems IPO Allotment Status
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Fujiyama Power Systems IPO Details
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Fujiyama Power Systems IPO Subscription FAQs
What is Fujiyama Power Systems IPO IPO subscription status today?
Fujiyama Power Systems IPO IPO subscription closed on 17 November 2025 with overall subscription of 2.21x (by shares) as of 27 June 2026, 2:01 AM IST. QIB 5.24x, NII 0.55x, Retail 0.76x.
What is the overall subscription of Fujiyama Power Systems IPO IPO?
Fujiyama Power Systems IPO IPO is subscribed 2.21x overall by shares at close on 17 November 2025. QIB 5.24x, NII 0.55x, and Retail 0.76x.
What is Fujiyama Power Systems IPO IPO QIB subscription?
Fujiyama Power Systems IPO IPO QIB (Qualified Institutional Buyers) subscription is 5.24x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Fujiyama Power Systems IPO IPO Retail subscription?
Fujiyama Power Systems IPO IPO Retail subscription is 0.76x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is Fujiyama Power Systems IPO IPO NII subscription?
Fujiyama Power Systems IPO IPO NII (Non-Institutional Investors) subscription is 0.55x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in Fujiyama Power Systems IPO IPO for retail?
Fujiyama Power Systems IPO IPO retail share subscription is 1.04x. Application-wise data is needed for accurate lottery odds.
When is Fujiyama Power Systems IPO IPO allotment date?
Fujiyama Power Systems IPO IPO allotment date is 18 November 2025. Check Fujiyama Power Systems IPO Allotment Status on IPOwiz from that day using your PAN.
When does Fujiyama Power Systems IPO IPO subscription close?
Fujiyama Power Systems IPO IPO subscription closed on 17 November 2025. No new applications are accepted after the close.
What is Fujiyama Power Systems IPO IPO GMP today?
GMP for Fujiyama Power Systems IPO IPO is not available yet. Track Fujiyama Power Systems IPO GMP Today on IPOwiz once grey market activity starts.
What is Fujiyama Power Systems IPO IPO issue price and lot size?
Fujiyama Power Systems IPO IPO issue price is ₹228 per share. Lot size is 65 shares. Minimum investment is ₹14,820 per lot. Issue size: ₹828 Cr.
When is Fujiyama Power Systems IPO IPO listing date?
Fujiyama Power Systems IPO IPO listing date is 20 November 2025 on NSE and BSE. Allotment is on 18 November 2025.
How does subscription affect Fujiyama Power Systems IPO IPO allotment?
Allotment odds in Fujiyama Power Systems IPO IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII uses proportional allotment by applications. At 2.21x overall, competition is moderate.
For allotment results from 18 November 2025, visit the Fujiyama Power Systems IPO Allotment Status page. For listing day updates on 20 November 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.