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.
