#FujiyamaPowerSystems #IPO #SolarEnergy #RenewableEnergy #GreenTech #IndianIPO #DalalStreet #UTLSolar #MakeInIndia #Investment
Chandigarh: Fujiyama Power Systems, a key player in India’s rapidly growing solar power ecosystem, is set to launch its Initial Public Offering (IPO) on November 13. The Noida-based company, specializing in solar inverters, panels, and batteries, will be one of five mainboard issues hitting Dalal Street next week, signaling a massive week for the primary market alongside offerings from PhysicsWallah, Emmvee Photovoltaic Power, Tenneco Clean Air, and Capillary Technologies.
IPO Structure and Key Dates
As per the Red Herring Prospectus (RHP) filed on November 7, the IPO consists of a mix of a fresh issue and an Offer-for-Sale (OFS):
- Fresh Issue: The company aims to mobilize ₹600 crore by issuing new equity shares.
- Offer-for-Sale (OFS): Promoters Pawan Kumar Garg and Yogesh Dua will collectively offload 1 crore equity shares.
- Issue Size Reduction: Notably, the OFS component has been scaled back from the 2 crore equity shares planned earlier, as outlined in the revised Draft Red Herring Prospectus (DRHP) filed in March 2025. SEBI approved the draft papers in July 2025.
The offering schedule is as follows:
| Activity | Date |
| Anchor Book Opening | November 12 |
| Public Subscription Opens | November 13 |
| Public Subscription Closes | November 17 |
| Share Allotment Finalisation | November 18 |
| Listing Date (BSE & NSE) | November 20 |
Capital Deployment for Expansion and Debt Reduction
The funds raised through the fresh issue component are primarily earmarked for strategic expansion and balance sheet strengthening. Fujiyama Power Systems, which markets its rooftop solar products and solutions under the popular brands UTL Solar and Fujiyama Solar, plans the following utilization:
- Manufacturing Expansion: ₹180 crore will be invested to establish new manufacturing facilities for solar inverters, solar panels, and lithium-ion batteries in Ratlam, Madhya Pradesh. This is crucial for expanding capacity to meet the soaring domestic demand for renewable energy solutions.
- Debt Repayment: ₹275 crore will be utilized towards the repayment or prepayment of certain outstanding company debt, which will help reduce financing costs and improve financial leverage.
- General Corporate Purposes: The remainder of the funds will be allocated for general corporate needs.
Stellar Financial Performance
The company, which operates four manufacturing facilities and possesses in-house R&D capabilities, has demonstrated impressive growth and profitability.
- Q1 FY26 Performance: For the quarter ended June 2025, Fujiyama Power Systems recorded a significant profit of ₹67.6 crore on a revenue of ₹597.3 crore.
- Annual Growth: The profit for the full fiscal year ended March 2025 stood at ₹156.4 crore, marking a robust 245.2 percent increase from the ₹45.3 crore profit recorded in the previous fiscal year.
- Revenue Growth: Revenue for the same period climbed by 66.6 percent to ₹1,540.7 crore, up from ₹924.7 crore.
This strong financial trajectory positions the company competitively against listed peers such as Waaree Energies, Premier Energies, Exicom Tele Systems, and Insolation Energy in the rapidly evolving solar energy sector.
The IPO is being managed by merchant bankers Motilal Oswal Investment Advisors and SBI Capital Markets.
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#FujiyamaPowerSystems #IPO #SolarEnergy #RenewableEnergy #GreenTech #IndianIPO #DalalStreet #UTLSolar #MakeInIndia #Investment
