March 8, 2025
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Fujiyama Power Systems, a leading player in India’s rooftop solar industry based in Noida, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking its re-entry into the Initial Public Offering (IPO) market. The company plans to raise up to Rs 600 crore through this offering, which will consist of a fresh issue of shares and an offer-for-sale of up to 20 million shares by promoter shareholders. The IPO also includes a reservation and discount for eligible employees, enhancing its appeal.
The funds raised from the fresh issue will primarily be used to set up a new manufacturing facility in Ratlam, Madhya Pradesh, as well as to reduce outstanding borrowings. A portion of the proceeds will also be allocated for general corporate purposes. The IPO will be conducted through a book-building process, with shares allocated to qualified institutional buyers, non-institutional bidders, and retail individual bidders. Motilal Oswal Investment Advisors and SBI Capital Markets will serve as the lead managers, and MUFG Intime India will act as the registrar. The equity shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Fujiyama Power Systems is known for its diverse range of solar products, including solar panels, inverters, and batteries. With a strong focus on R&D, the company has pioneered innovations such as the SMT-based inverter with a single card—an industry-first in India. Its brands, UTL Solar and Fujiyama Solar, are well-established, supported by an extensive distribution network of over 480 distributors, 3,600 dealers, and 1,000 exclusive Shoppe franchisees. Fujiyama’s commitment to excellence is highlighted by its recognition as India’s largest off-grid inverter company in 2019 and Most Preferred Solar Energy Brand in 2020.
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