Fujiyama Power Systems To Float ₹828 Cr IPO On Nov 13

Fujiyama Power Systems, which provides solutions for the rooftop solar industry, on Monday said it will launch its Initial Public Offering (IPO) on November 13 to raise ₹828 crore.

In its statement, the company said its maiden public offering with a price band of ₹216 to ₹228 per share will conclude on November 17.

Shares will be allocated to anchor investors on November 12.

The IPO is a combination of a fresh issue of equity shares worth upto ₹600 crore and an Offer For Sale (OFS) of 10 lakh shares, valued ₹228 crore at the upper end, by promoters.

Proceeds from the fresh issue to the tune of ₹180 crore would be utilised by the company towards financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, ₹275 crore for payment of debt, and the rest for general corporate purposes.

Greater Noida-based Fujiyama Power Systems is a manufacturer of products and solution provider in the roof-top solar industry, including on-grid, off-grid and hybrid solar systems. The company has built a brand recall and reputation in the industry through its brands 'UTL Solar', which has a legacy of 28 years, and Fujiyama Solar.

It has developed three manufacturing facilities and R&D capabilities domestically, with a consistent focus on technological development and product innovation.

Financially, the company's revenue from operations stood at ₹1,540.67 crore during FY25 as against ₹664.08 crore during FY23. Its net profit was at ₹156.33 crore in FY25 as against ₹24.36 crore during FY23.

Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers.