Fujiyama Power Systems Seeks SEBI Approval For Rs 600-Crore IPO

Noida-based rooftop solar company, Fujiyama Power Systems Ltd., has refiled its Draft Red Herring Prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering.

The offering includes a fresh issue of shares worth up to Rs 600 crore and an offer-for-sale of up to 2 crore shares by promoter shareholders. The proceeds will be used to establish a manufacturing facility in Ratlam, Madhya Pradesh, repay certain borrowings, and for general corporate purposes.

The IPO will be conducted through a book-building process, with allocations for qualified institutional buyers, non-institutional bidders, and retail individual bidders. Motilal Oswal Investment Advisors Ltd. and SBI Capital Markets Ltd. are the lead managers, and MUFG Intime India Pvt. is the registrar. The shares will be listed on the NSE and BSE.

Fujiyama Power Systems is among the leading players in the Indian rooftop solar industry, offering a wide range of solar products including panels, inverters, and batteries.

Fujiyama Power Systems has three manufacturing facilities and research and development capabilities in India. It is one of the few companies in India to develop Online UPS with single card, Combo UPS along with automatic voltage regulation, high frequency online UPS and single card surface mount technology inverter in India, the company said.

It has a pan-India distribution network of more than 480 distributors, 3,600 dealers and 1,000 exclusive “Shoppe” franchisees, which is trained in understanding the customer’s need and in planning, evaluating and supplying customised solar systems and solutions.