Massive Rs 828 Cr Fujiyama Power IPO Opens Nov 13! See Who's Investing & Why You Can't Miss This!

Renewables

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Updated on 12 Nov 2025, 05:04 pm

Fujiyama Power Systems, a Noida-based manufacturer of solar panels and inverters, is set to launch its Initial Public Offering (IPO) worth Rs 828 crore. The subscription period will be open from November 13 to November 17, with a price band fixed between Rs 216 and Rs 228 per share.

The IPO comprises a fresh issuance of shares valued at Rs 600 crore to raise capital for business expansion and debt reduction, along with an offer-for-sale (OFS) component of Rs 228 crore. Through the OFS, promoters Pawan Kumar Garg and Yogesh Dua will offload 1 crore equity shares.

Ahead of the public issue, Fujiyama Power Systems successfully garnered Rs 246.9 crore from 15 anchor investors, who were allocated shares at Rs 228 per share. Prominent participants in the anchor book included two domestic mutual funds, Nippon Life India and Tata Mutual Fund, which together invested Rs 129.2 crore. Other notable investors were BNP Paribas, ValueQuest, Societe Generale, LC Pharos Multi Strategy Fund, Citigroup Global, and Ampersand Growth Opportunities Fund.

Furthermore, promoters Shiv Kumar Garg and Sandeep Dua divested a 1.17% stake, amounting to 33 lakh shares, to ValueQuest for Rs 75.24 crore before the IPO, reducing their individual holdings.

The company plans to utilize Rs 180 crore from the IPO proceeds for establishing a new manufacturing facility in Ratlam, Madhya Pradesh, and Rs 275 crore for repaying existing debt. The remaining funds will be allocated for general corporate purposes.

Motilal Oswal Investment Advisors and SBI Capital Markets are the appointed merchant bankers for this IPO.

Impact This IPO provides capital for a renewable energy company, potentially boosting manufacturing capacity and contributing to India's green energy goals. It will also introduce a new listed entity on Indian stock exchanges, offering investment opportunities and influencing the valuation of the solar manufacturing sector. Rating: 7/10.

Difficult Terms Initial Public Offering (IPO): The process by which a private company can offer its shares to the public for the first time, becoming a publicly traded company. Anchor Investors: Large institutional investors who commit to buying shares in an IPO before it opens to the general public. They provide early stability and confidence to the issue. Offer-for-Sale (OFS): A method where existing shareholders (like promoters) sell their shares to the public through a stock exchange mechanism. The company itself does not receive any funds from an OFS. Price Band: The range within which bids can be placed for shares during an IPO. Manufacturing Facility: A plant or building where goods are produced. Debt Repayment: The process of paying off money owed to lenders. General Corporate Purposes: Funds used by a company for its day-to-day operations, expansion, or other business needs not specified under specific heads. Merchant Bankers: Financial intermediaries who help companies raise capital by underwriting and distributing securities in the IPO.