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New Delhi: The shares of Fujiyama Power Systems made a muted debut in the stock market on 20th November, i.e. Thursday. The stock got listed at Rs 220 apiece on NSE, a discount of 3.51 per cent from its IPO issue price of Rs 228. On BSE, the counter made its entry at 218.40, down 4.21 per cent from issue price.
During the three-day bidding process, the IPO received an overall positive response from investors. Fujiyama Power IPO received 2.14 times subscription by the end of the last day. The retail quota was fully subscribed, while the share of non-institutional investors got 88 percent of the total subscription and the share of Qualified Institutional Buyers (QIBs) got 5.15 times the subscription. Employee quota subscribed 1.47 times. According to BSE data, the company received bids for 5,63,26,595 shares out of 2,63,47,221 available shares.
According to the grey market trends, the listing of the Fujiyama Power Systems IPO is likely to remain normal. According to Investorgain, the GMP stood at Rs 3, which indicated that the shares of Fujiyama Power Systems would list at Rs 231 a piece as against the issue price of Rs 228. Investors can get a listing gain of 1.32 percent per share.
Fujiyama Power Systems IPO Details
The Fujiyama Power Systems IPO was a book build issue of Rs 228 crore. The lot size of the IPO was 65 equity shares. This public issue opened on Thursday 13 November and closed on Monday 17 November.
Fujiyama Power Systems is a manufacturer and solution provider of products in the rooftop solar industry, which includes off-grid, on-grid and hybrid solar systems. Its brands include UTL Solar and Fujiyama Solar. Greater Noida-based Fujiyama Power Systems manufactures and supplies a range of rooftop solar solutions including on-grid, off-grid and hybrid systems.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
