Fujiyama Power Systems, a provider of solutions for the rooftop solar industry, announced on Monday its plans to launch an Initial Public Offering (IPO) on November 13, aiming to raise ₹828 crore.
The company stated that its first public offering will be priced within a range of ₹216 to ₹228 per share, with the offering set to conclude on November 17. Shares will be allocated to anchor investors on November 12.
The IPO consists of a fresh issue of equity shares worth up to ₹600 crore and an Offer For Sale (OFS) of 10 lakh shares, which are valued at ₹228 crore at the upper end of the price band by the promoters.
Fujiyama plans to utilize approximately ₹180 crore of the proceeds from the fresh issue to finance the establishment of a manufacturing facility in Ratlam, Madhya Pradesh. Additionally, ₹275 crore will be allocated for debt repayment, with the remainder designated for general corporate purposes.
Based in Greater Noida, Fujiyama Power Systems manufactures products and offers solutions in the rooftop solar sector, including on-grid, off-grid, and hybrid solar systems. The company has established strong brand recognition through ‘UTL Solar,’ which boasts a legacy of 28 years, and Fujiyama Solar.
Fujiyama has set up three manufacturing facilities and R&D capabilities in India, focusing on technological advancements and product innovation.
Financially, the company reported revenue from operations of ₹1,540.67 crore for FY25, an increase from ₹664.08 crore in FY23. Its net profit also rose to ₹156.33 crore in FY25, compared to ₹24.36 crore in FY23.
Motilal Oswal Investment Advisors and SBI Capital Markets are acting as the book-running lead managers for the IPO.
This announcement was published on November 10, 2025.
