Noida-Based Solar Leader Fujiyama Power Systems Refiles DRHP For IPO—Eyes Rs 600 Cr Fundraising

Fujiyama Power Systems Limited, a rooftop solar company centred in Noida, has resubmitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) in order to raise funds through an initial public offering (IPO). With a face value of Rs 1, the book-building IPO consists of both an entirely fresh share issuance of up to Rs 600 crore and an offer by promoters selling shareholders to sell up to 20 million shares and up to 10 million shares through Pawan Kumar Garg and up to 10 million shares through Yogesh Dua.

Eligible employees also can reserve a subscription through it, and those who bid in the employee reservation section will receive a discount.

The net proceeds of the fresh issuance are going to be used for company operations in general as well as the repayment and/or prepayment of all or a portion of the company's outstanding borrowings, as well as to partially fund the cost of building a manufacturing facility in Ratlam, Madhya Pradesh. No less than 15% and 35% of the net offer will be awarded to non-institutional bidders and retail individual bidders, respectively, while no more than 50% of the issue will be distributed to qualified institutional buyers (QIBs) (QIP Portion).

The issue's registrar is MUFG Intime India Private Limited, while the book-running lead managers are Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited. It has been proposed that the equity shares be listed on both the BSE Limited and the National Stock Exchange of India Limited.

On-grid, off-grid, and hybrid solar systems are among the products and solutions offered by Fujiyama Power Systems in the rooftop solar market. The firm is a leader in the production of lead-acid and lithium-ion batteries, as well as solar panels and solar investments. The firm stands itself as a well-rounded leader in the sector because of its strong R&D skills in inverter technology and range of solar SKUs.

More than 480 distributors, 3,600 dealers, and 1,000 exclusive "Shoppe" franchisees make up the company's vast pan-India distribution network. These individuals are educated to comprehend consumer needs and to develop, assess, and provide customised solar systems and solutions. The United States, Bangladesh, and the United Arab Emirates are among the domestic and foreign markets that Fujiyama services. Its well-known brands, UTL Solar and Fujiyama Solar, have been in the business for more than 28 years.