Power Equipment - Listed on 20 November 2025
Fujiyama Power Systems (Power Equipment) closed its IPO window in 2025 and listed on NSE and BSE on 20 November 2025 at an upper band issue price of Rs 228, opening at Rs 220 for a listing gain of -3.5% and closing day one at Rs 208.44 (-8.6% on closing basis). The IPO was subscribed 2.14x overall - QIB 5.15x, HNI/NII 0.88x, Retail 1.00x. The total issue size was Rs 828 Cr (Fresh Issue Rs 600 Cr, OFS Rs 228 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Power Equipment
Fujiyama Power Systems operates in the Power Equipment space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Fujiyama Power Systems issue was offered at an upper price of Rs 228 and raised approximately Rs 828 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 0 | 0.00% |
| Day 2 | Rs 0 | 0.00% |
| Day 3 | Rs 0 | 0.00% |
| Day 4 | Rs 0 | 0.00% |
| Day 5 | Rs 0 | 0.00% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Fujiyama Power Systems IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Fujiyama Power Systems IPO listed at -3.5% versus the upper issue price of Rs 228 on 20 November 2025.
Fujiyama Power Systems IPO was subscribed 2.14x overall. QIB portion was subscribed 5.15x, HNI / NII 0.88x and Retail 1.00x.
IPO GMP started at Rs 0 on Day 1 and moved to Rs 0 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.