Fujiyama Power Systems, a prominent manufacturer of solar inverters, panels, and batteries, is set to launch its Initial Public Offering (IPO) on November 13. This highly anticipated public issue marks a significant step in the company's growth trajectory and its expansion within the renewable energy sector. According to the Red Herring Prospectus (RHP) filed with the Registrar of Companies on November 7, the company will issue fresh shares worth ₹600 crore through this IPO. Concurrently, promoters Pawan Kumar Garg and Yogesh Dua will offload 1 crore equity shares via an Offer-For-Sale (OFS). Sunil Kumar is also listed among the promoters, indicating a strong leadership team driving the company's vision.
IPO Timeline and Key Dates
The detailed timeline for Fujiyama Power Systems' IPO has been established, providing clarity for potential investors. Anchor investors will have the opportunity to place their bids on November 12, a crucial window for institutional participation, while the main issue will open to the public on November 13 and is scheduled to close on November 17, allowing ample time for retail and non-institutional investors to subscribe. The finalization of share allotment is slated for November 18, following which successful bidders will receive their shares, while finally, the shares of Fujiyama Power Systems are expected to be listed on both the BSE and NSE on November 20, marking the company's debut on the public markets.
Company Overview and Offer Structure
Fujiyama Power Systems operates in the rooftop solar industry, offering a comprehensive range of products and solutions under its well-known brands, UTL Solar and Fujiyama Solar. The company had initially refiled its draft for the public issue on March 6 this year, with the Offer-For-Sale then comprising 2 crore equity shares. However, the Capital Market Regulator SEBI approved the draft in July 2025, and the OFS size has since been adjusted to 1 crore equity shares. The IPO structure allocates 50 percent of the issue to Qualified Institutional Buyers (QIBs), while 35 percent is reserved. For retail investors, and the remaining 15 percent is set aside for Non-Institutional Investors (NIIs), ensuring a diverse investor base.
Utilization of Funds
The proceeds from the fresh issue of ₹600 crore will be strategically utilized to fuel the company's expansion plans and strengthen its financial position. A substantial portion, specifically ₹180 crore, is earmarked for the establishment of a new, state-of-the-art manufacturing plant in Ratlam, Madhya Pradesh, while this facility will be dedicated to the production of solar inverters, solar panels, and lithium-ion batteries, Importantly boosting the company's production capacity and enabling it to meet the escalating demand in the renewable energy sector. On top of that, ₹275 crore will be used to repay existing debts, which will enhance the company's balance sheet strength and improve its financial flexibility for future growth initiatives. The remaining funds will be allocated towards general corporate purposes, including operational expenses, working capital requirements, and other strategic endeavors.
Financial Performance and Market Position
Fujiyama Power Systems has demonstrated solid financial performance in recent periods. For the quarter ending June 2025, the company reported a revenue of ₹597. 3 crore and a profit of ₹67. 6 crore. During the fiscal year 2025, the profit witnessed an impressive surge of 245. 2 percent, reaching ₹156. 4 crore, a significant increase from ₹45, while 3 crore in the previous year. Concurrently, the revenue for the same period grew by 66. 6 percent, climbing to ₹1,540. 7 crore from ₹924, while 7 crore in fiscal year 2024. This consistent growth underscores the company's operational efficiency and the increasing market demand for its products. The company's listed competitors include prominent names such as Waaree Energies, Premier Energies, Exicom Tele. Systems, and Insolation Energy, highlighting a competitive landscape within the solar and energy solutions sector. Motilal Oswal Investment Advisors and SBI Capital Markets have been appointed as the merchant bankers for Fujiyama Power Systems' IPO. These reputable financial institutions will play a crucial role in managing the IPO process and ensuring its successful completion. The company's strong financial performance, strategic expansion plans, and alignment with the. Growing demand in the renewable energy sector position it favorably for future prospects. The establishment of the new plant in Ratlam and the repayment of debts are expected to further solidify the company's market standing and drive long-term sustainable growth.