Fujiyama Power Systems Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Fujiyama Power Systems Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹228
Per ShareLot Size
65 Shares
Minimum Investment
₹14,820
Issue Size
₹828 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Fujiyama Power Systems Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
82.27%
Promoter Holding (Post-Issue)
71.95%
Issue Type
Book Building
ISIN
INE12UR01024
About the Company
Our Company operates in the Indian rooftop solar industry, manufacturing and supplying a comprehensive range of solar products including solar panels, inverters and batteries. With a focus on innovation and R&D, our Company has a history of developing various technologies, including its patented rMPPT technology and offers a wide product portfolio of over 522 SKUs under "UTL Solar" and "Fujiyama Solar" brands. As of June 30, 2025, our Company currently operates four manufacturing facilities with its distribution network across India with more than 725 distributors, 5,546 dealers and 1,100 exclusive "Shoppe" franchisees. Some of our listed peers are Waaree Energies Limited, Premier Energies Limited, Exicom Tele-Systems Limited and Insolation Energy Limited.
Industry Overview
Solar energy plays a pivotal role in India's renewable landscape. India's installed capacity surged from 35 GW in CY19 to 94 GW in CY24 and is expected to reach 365 GW by FY2032. This rapid growth also reflects policy support from state and central government. The rooftop solar market has witnessed significant momentum and is expected to register robust growth, reaching almost 100 GW. The demand for batteries is also expected to grow significantly. Lithium-ion batteries remain at the forefront of EV and renewable energy storage due to their high energy density, long lifecycle, and decreasing costs.
Company History
Our Company was incorporated as `Fujiyama Power Systems Private Limited' as a private limited company on November 29, 2017 under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 12, 2017, issued by the Registrar of Companies, Central Registration Centre. Our Company was subsequently converted from a private limited company to a public limited company pursuant to a special resolution passed by our Shareholders on October 10, 2024, and the name of our Company was changed to `Fujiyama Power Systems Limited'. A fresh certificate of incorporation dated November 20, 2024 was issued by the Registrar of Companies, Central Processing Centre, pursuant to the change of name of our Company on conversion to a public limited company.
Products & Services
- The Company operates in the Indian rooftop solar industry, manufacturing and supplying a comprehensive range of solar products including solar panels, inverters and batteries.
Growth Strategy
- Expand the manufacturing base for solar panels, inverters and batteries and strengthen back-end integration in solar panels.
- Further strengthening domestic distribution and retail network and increase export sales.
- Address market opportunities with a focus on continuously developing more efficient products and using innovative marketing tools and sales strategies, such as actionable influence.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 36,315,789 equity shares of face value of Re. 1/- each (the "equity shares") of Fujiyama Power Systems Limited ("company" or "issuer") for cash at a price of Rs. 228/- per equity share (including a premium of Rs. 227/- per equity share) (the "offer price") aggregating to Rs. 828.00 crores* (the "offer") comprising a fresh issue of 26,315,789 equity shares of face value Re. 1/- each aggregating to Rs. 600.00 crores by the company (the "fresh issue") and an offer for sale of 10,000,000 equity shares of face value Re. 1/- each aggregating to Rs. 228.00 crores (the "offer for sale"), comprising an offer for sale of 5,000,000 equity shares* of face value Re. 1/- each aggregating to Rs. 114.00 crores by Pawan Kumar Garg and 5,000,000 equity shares of face value Re. 1/- each aggregating to Rs. 114.00 crores by Yogesh Dua (collectively, the "promoter selling shareholders"), and such equity shares, the "offered shares"). The offer includes a reservation of 219,298 equity shares* of face value Re. 1/- each, aggregating to Rs. 5.00 crores (constituting 0.07% of the post offer paid-up equity share capital of the company), for subscription by eligible employees (the "employee reservation portion"). The offer less the employee reservation portion is hereinafter referred to as the "net offer". The offer and the net offer shall constitute 11.85% and 11.78%, respectively, of the post-offer paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Diversified portfolio of solar products and solutions which distinguishes us as a well-rounded leader in the rooftop solar industry.
- Track record of technological development and product innovation.
- Robust distribution network and post-sale service capabilities driving strong brand recognition.
- Quality-centric and precision-driven large scale manufacturing infrastructure driving production efficiency.
- Experienced Promoters and Senior Management and a committed employee base.
- The company's manufacturing facilities are subject to various operational risks. Any disruption in operations or shutdown of the company existing manufacturing facilities or future manufacturing facilities or any other operational problems caused by unforeseen events may reduce sales and adversely affect its business, and results of operations and financial condition.
- Geographical concentration of its manufacturing facilities in northern India exposes it to region specific risks that could adversely affect the company business, financial condition, results of operations, and cash flows.
- The company's ability to grow the company retails sales depends on the success of its relationship with the company distributors, dealers and franchisees and an inability to maintain or further expand its retail network, could negatively affect the company business, cash flows and results of operations.
- The company's import a significant part of its raw material supply from China and the company import equipment and machinery from other foreign countries and the same is subject to certain risks. Restrictions on or import duties relating to materials and equipment imported for its manufacturing operations as well as restrictions on or import duties levied on the company products in its export markets may adversely affect its business prospects, financial performance and cash flows.
- Decline in the price of its products may have an adverse impact on the company business, results of operations and cash flows.