Fujiyama Power Systems’ Rs 828-cr IPO subscribed over 2x

The initial public offer (IPO) of Fujiyama Power Systems, which provides solutions for the rooftop solar industry, was subscribed to more than 2 times on the final day of share sale on Monday.

The Rs828-crore IPO received bids for 5,63,26,400 shares as against 2,63,47,221 shares on offer, translating to 2.14 times subscription, according to data available with the NSE.

The qualified institutional buyers’ category received 5.15 times subscription while the quota for non-institutional investors subscribed 88 per cent.

The retail individual investors part was also subscribed fully.