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The initial public offering (IPO) of Fujiyama Power Systems Ltd. closed with a robust subscription on the last day of bidding on Monday.

After the successful subscription, investors are awaiting the finalisation of the IPO share allotment status. Fujiyama Power Systems is expected to finalise the allotment status for the IPO on Tuesday, November 18.

The IPO of the Noida-based manufacturer of solar industry products was oversubscribed 2.14 times, with investors bidding for over 56 crore shares against 26.34 crore shares on offer.

QIBs led the demand for the public issue, subscribing 5.15 times. Non-institutional investors subscribed 0.88 times, whereas retail investors' portion was subscribed 1 t

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