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Schedule of Fujiyama Power Systems Ltd IPO
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About Fujiyama Power Systems Ltd Ltd Ltd IPO
Fujiyama Power Systems Ltd Ltd Ltd proposes initial public offering of equity shares of face value ₹1 each for cash. The offer comprises a Fresh Issue of equity shares aggregating up to ₹700 crores and an Offer for Sale of up to 20,000,000 equity shares.
Objectives of Fujiyama Power Systems Ltd Ltd Ltd IPO
The objects of the offer are to:
- Finance the cost of establishing a manufacturing facility in Ratlam, Madhya Pradesh
- Repay certain outstanding borrowings availed by the company
- Utilise a part of proceeds for general corporate purposes
Fujiyama Power Systems Ltd Ltd Ltd IPO Valuation
Fujiyama Power Systems Ltd Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional bidders | Not less than 15% of the net offer |
Retail individual bidders | Not less than 35% of the net offer |
Industry Outlook
Solar energy is a key player in India’s shift to renewables. India’s solar capacity has grown rapidly, from 28 GW in 2019 to 82 GW in 2024, and is projected to hit 365 GW by 2032. This growth has been driven by strong government policies at both state and national levels.
The rooftop solar market is also picking up pace and is expected to reach nearly 100 GW. Alongside this, the demand for batteries is set to rise, especially with the increasing adoption of electric vehicles. As solar power, EVs, and energy storage evolve together, they point toward a future where economic progress and sustainability go hand in hand.
Company Information
Fujiyama Power Systems Ltd Ltd is a leading manufacturer and solution provider in the rooftop solar industry, offering a wide range of products, including solar panels, inverters (on-grid, off-grid, and hybrid), and both lead-acid and lithium-ion batteries.
With a strong presence in India, the company has built a trusted reputation through its different brands, supported by an extensive distribution network of 480+ distributors, 3,600 dealers, and 1,000 exclusive franchise stores. Backed by innovation, R&D, and advanced manufacturing facilities, the company has continued to make solar energy more accessible and efficient for homes and businesses across the country.
Fujiyama Power Systems Ltd Strengths
A well-rounded leader in the rooftop solar industry with its diversified portfolio of solar products and solutions.
The company offers an extensive range of products including solar PCUs, solar off-grid, on-grid and hybrid inverters, solar panels, battery chargers, lithium-ion and tubular batteries, online UPS systems, offline UPS systems, solar management units and solar charge controllers, among others. Further, in the EV segment, they sell chargers for E-Rickshaws and lithium-ion batteries.
They offer over 500 SKUs which can be tailored to meet the specific preference and requirements of the customer and the geographical location which reduces dependency on any single product category, ensuring resilience against market fluctuations and a steady revenue growth.
Track record of technological development and product innovation.
They have a track record of being one of the few companies in India to develop Online UPS with single card, combo UPS along with AVR, high frequency online UPS and a single card SMT Inverter in India. It was the first Indian company to develop SMTinverter with single card in the year 2000 (Source: CARE Report).
Robust distribution network, and post-sale service capabilities driving strong brand recognition.
As on September 30, 2024, they have more than 480 distributors, 3,600 dealers and 400 service engineers who travel throughout the country to serve their customers. They also have a dedicated team of 400 service engineers who provide maintenance service and technical support to their customers pan India. They provide their service through instant product demo video links, on call technical resolution and on-site services.
Risks of Fujiyama Power Systems Ltd Ltd IPO
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All of their current manufacturing facilities are located in North India, which exposes their operations to potential risks arising from local and regional factors, which may restrict their operations and adversely affect their business, results of operations and cash flows.
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They are dependent on third party suppliers of materials and components for manufacturing their products. Any disruptions in the supply or availability of materials and components of the appropriate quality standards and fluctuation in their prices may have an adverse impact on their business operations, cash flows and financial performance.
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Restrictions on or import duties relating to materials and equipment imported for their manufacturing operations as well as restrictions on or import duties levied on their products in their export markets may adversely affect their business prospects, financial performance and cash flows.
All Financial Information about Fujiyama Power Systems Ltd
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company | Revenue (₹ crores) | EPS Basic (₹) | NAV per Share (₹) | RoNW% |
|---|---|---|---|---|
Fujiyama Power Systems Ltd Ltd | 924.68 | 1.62 | 8.56 | 18.91% |
Waaree Energies | 1139.7 | 48.05 | 157.26 | 30.82% |
Premier Energies | 3143.7 | 6.93 | 23.94 | 36.69% |
Exicom Tele Systems | 1019.55 | 6.70 | 59.72 | 8.86% |
Insolation Energy | 737.174 | 26.63 | 52.00 | 51.20% |
IPO Registrar and Book Running Lead Managers
Registrar: Link Intime India Private Limited
BRLMs: Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited
Business Model
Fujiyama Power Systems Ltd Ltd is a leading player in India's rooftop solar industry, making and supplying a wide range of solar products like panels, inverters, and batteries. Its brands, UTL Solar and Fujiyama Solar, offer over 500 products, backed by continuous innovation and patented technology.
The company has three manufacturing facilities and a strong network of 480+ distributors, 3,600 dealers, and 1,000 exclusive stores.
Company Growth Trajectory
Over the last three financial years, the company's revenue from operations has shown consistent growth, increasing from ₹506.83 crore in FY 2022 to ₹664.08 crore in FY 2023 and further to ₹924.68 crore in FY 2024. Similarly, the EBITDA has also improved significantly during this period, rising from ₹44.27 crore in FY 2022 to ₹51.59 crore in FY 2023 and reaching ₹98.63 crore in FY 2024.
Fujiyama Power Systems Ltd Ltd Profit and Loss
| Parameter | Fiscal 2022 | Fiscal 2023 | Fiscal 2024 |
|---|---|---|---|
Total Income (₹ crores) | 508.13 | 665.32 | 927.19 |
Profit Before Tax (₹ crores) | 39.55 | 31.47 | 62.60 |
EBITDA (₹ crores) | 44.27 | 51.59 | 98.63 |
Fujiyama Power Systems Ltd Balance Sheet
| Parameters | Fiscal 2022 | Fiscal 2023 | Fiscal 2024 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 39.55 | 31.47 | 62.60 |
Net Cash from (used in) Operating Activities (in ₹ crores) | (58.46) | 77.88 | 85.45 |
Net Cash from (used in) Investing Activities (in ₹ crores) | (45.71) | (132.30) | (44.59) |
Cash and Cash Equivalents (in ₹ crores) | 0.034 | 0.113 | 4.216 |
How to Check Allotment Status of Fujiyama Power Systems Ltd Ltd IPO?
Investors who have applied for the initial public offering of Fujiyama Power Systems Ltd Ltd can check the allotment status to determine if they have been allotted shares or not. There are a few ways in which investors can check the allotment status of the IPO.
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Registrar's Website: Investors can check the allotment status on the website of Link Intime India Private Limited, which is the registrar to the IPO. The registrar's website is www.linkintime.co.in. Investors will need to select the company name and then enter either their PAN details, application number or DP Client ID, DP ID and Client ID to access the allotment status.
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Stock Exchange Website: Allotment status can also be checked on the website of the stock exchange where the shares are proposed to be listed, which in this case are BSE and NSE. Investors can visit www.bseindia.com or www.nseindia.com and search for the 'Equity' section. Thereafter, select “view allotment status”.
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Entering Application Details: Investors can enter their PAN, application number or the DP Client ID, DP ID and Client ID to check the allotment status on the website of the registrar, stock exchange or through the helpline number provided in the offer document. The PAN will help retrieve the application details and display the number of shares allotted to the investor if the allotment has been finalised.
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Calling the Registrar's Helpline: The offer document will provide the helpline number and email address of the registrar. Investors can call the helpline number of Link Intime India Private Limited and inquire about the allotment status by providing the application number or DP Client ID and PAN. The customer service representatives will be able to access the allotment details and inform the investor accordingly.
How to Apply for Fujiyama Power Systems Ltd Ltd IPO?
Here are the steps to apply for Fujiyama Power Systems Ltd Ltd IPO.
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Fujiyama Power Systems Ltd IPO FAQs
What is the Fujiyama Power Systems Ltd IPO?
The Fujiyama Power Systems Ltd Ltd IPO involves a fresh issue of equity shares worth ₹700 crore and an offer-for-sale (OFS) of 20 million shares by promoters Pawan Kumar Garg and Yogesh Dua, who will each sell 10 million shares. The company plans to use the proceeds for expansion, repaying outstanding debt, and general corporate purposes.
Who is the CEO of Fujiyama Power Systems Ltd?
The CEO of Fujiyama Power Systems Ltd Ltd is Yogesh Dua, who also serves as the Joint Managing Director of the company.
What is the lot size of shares of the Fujiyama Power Systems Ltd IPO?
The company hasn’t given any information on the lot size yet.
From where can I read more about the IPO of Fujiyama Power Systems Ltd?
You may read more about Fujiyama Power Systems and its IPO from the company’s draft red herring prospectus (DRHP) here: < Fujiyama Power Systems Ltd DRHP >
