Fujiyama Power IPO GMP & Day 3 Subscription Update: Allotment Date & Steps

We’re watching closely as Fujiyama Power Systems Ltd. launches its IPO, and the opening days have been surprisingly quiet. The company has fixed its IPO price band at ₹216 to ₹228 per share. The total issue size is ₹828 crore, made up of ₹600 crore in new shares and ₹228 crore offered for sale by existing shareholders. What stands out? There is almost no grey‑market premium (GMP). Early indicators show little speculative buzz. And on Day 3 of subscription, demand remains soft, adding a cautious tone for investors. We will explain the GMP picture, walk you through the Day 3 subscription numbers, explain the allotment process, and guide you on how to appl

What Is Fujiyama Power IPO?

Fujiyama Power Systems is a Noida‑based company that makes a wide range of rooftop solar products, from inverters and solar panels to battery systems. The business is quite diversified within solar and clean energy, which is a sector that many investors find attractive right now.

The IPO will start on 13 November 2025 and remain open for subscription until 17 November 2025. They plan to raise ₹828 crore: ₹600 crore from fresh shares plus ₹228 crore via an offer for sale (OFS) from existing investors. The lot size for retail investors is 65 shares, which means the minimum investment is ₹14,820 at the top end of the price band (₹228). The fresh capital will fund a manufacturing facility in Ratlam, Madhya Pradesh, help repay some debt, and support general business operations. The expected allotment date is 18 November, with refunds and credit to Demat accounts on 19 November, and a likely listing on 20 November on both NSE and BSE.

Understanding GMP (Grey Market Premium)

Grey Market Premium (GMP) shows the price at which an IPO is unofficially being bought or sold before its official stock market listing. It gives a rough idea of investor sentiment and expected listing gains. In the case of Fujiyama Power, the GMP is flat at 0%. This is unusual in a hot IPO market, because often investors pay a premium in grey markets when they expect strong listing gains. The flat GMP suggests limited speculative excitement. This quiet GMP could signal that many investors are sitting on the sidelines, possibly weighing the company’s fundamentals or cautious about overpaying. In other words, there’s not much “hype” driving this IPO in the grey market.

Day 3 Subscription Update

We from the investor community have been tracking how the IPO subscription is progressing day by dayOn Day 3, the total subscription hit only 0.40x, meaning that 40% of the shares on offer were bid for.

To break it down: there are 2.63 crore shares in the issue, but by Day 3, only about 1.04 crore bids were placed. That shows a cautious appetite from investors. Earlier, on Day 1, the IPO was subscribed to only 0.09x. That rise to 0.4x by Day 3 is modest, especially for a clean‑energy company in a growing sector.

Some of the factors behind this weak subscription could be:

• Muted GMP, which reduces speculative interest.
• Valuation concerns, at ₹228 in the upper band, some may feel the price is aggressive.
• Market sentiment, broader market volatility could be making investors more cautious.

Allotment Date & Listing Details

When it comes to allotment and listing, here’s the expected rollout:

1. Allotment Date: November 18, 2025.
2. Refunds & Share Credit: On November 19, 2025, unallotted applicants will get their money back, and allotted shares will be credited to Demat accounts.
3. Listing Date: November 20, 2025, on both the BSE and NSE.

To check allotment, once the basis is finalized, investors can use platforms like their broker app or registrar’s website. For this IPO, MUFG Intime India Pvt. Ltd. is the registrar.

How to Apply for Fujiyama Power IPO

We from the investing side can apply in a few standard ways. Here’s how:

Through ASBA (Bank Net‑Banking)

• Log in to your bank’s net‑banking portal.
• Go to the IPO section and select the Fujiyama Power IPO.
• Enter the number of lots (each lot is 65 shares).
• Confirm the UPI/ASBA mandate.
• Submit.

Through Broker Platforms / UPI

• Open your broker’s web or mobile app.
• Navigate to “Current IPOs.”
• Select “Fujiyama Power Systems.”
• Choose how many lots to apply for.
• Enter your UPI ID or other required details.
• Submit and confirm the mandate.

Tips for First-Time IPO Applicants

• Make sure your PAN, bank account, and Demat account are active and linked.
• Double-check your UPI ID before applyingto avoid rejections.
• Apply in the first or last hour when IPthe O is open, some brokers see more success then.
• Don’t apply for too many lots if you are unsure; oversubscribing can tie up funds.

Factors to Consider Before Investing

Before we place our bet, here are some important things to weigh:

• Company Strengths: Fujiyama is growing in the clean energy segment. Their product range is wide, from on-grid inverters to batteries. They also plan to scale up manufacturing, which could boost future earnings.
• Financial Risk: The company has existing debt, and part of the IPO money will go to debt repayment. That’s a plus, but it also means they have leveraged operations.
• Market Conditions: Clean-energy stocks are getting attention, but IPO markets are unpredictable. With a flat GMP, the risk of lower listing gains is real.
• Valuation: The upper price band (₹228) may be optimistic if demand stays low. Investors should check financial metrics like revenue growth, margins, and unit economics before betting big.

Conclusion

Fujiyama Power’s IPO offers a compelling opportunity; it’s a clean-energy company with solid plans for growth, and it’s raising a significant amount for expansion. But the early signs are mixed: GMP is flat, and Day 3 subscription is only 0.40x, showing muted investor enthusiasm. We advise potential investors to stay cautious, especially if you were hoping for a big pop on listing day. Use this IPO as a chance to dig into the company’s long-term potential, not just chase a quick gain. If you apply, follow the ASBA or broker route carefully, check your allotment status, and don’t forget to weigh both the upside and the risks.

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Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.