Fujiyama Power Systems Lights Up IPO Scene with Solar Solutions

Fujiyama Power Systems, based in Greater Noida, plans to raise funds through an IPO. The offering includes fresh equity shares and an offer-for-sale by promoters. Funds will support new manufacturing facility and debt repayment. Fujiyama is a key player in the solar industry with strong sales figures.

Greater-Noida-based Fujiyama Power Systems has filed preliminary papers with capital market regulator SEBI, aiming to raise funds via an Initial Public Offering (IPO). The IPO will combine a fresh equity issue of up to ₹700 crore and an offer-for-sale (OFS) by promoters.

Promoters Pawan Kumar Garg and Yogesh Dua will each offload one crore equity shares. A pre-IPO placement of ₹140 crore is under consideration, which would reduce the fresh issue size if completed.

Proceeds from the IPO will finance a new manufacturing facility in Ratlam, Madhya Pradesh, repay debt, and cover general corporate purposes. Fujiyama, known for its solar solutions, has established three facilities and plans further expansions.

(With inputs from agencies.)