Fujiyama Power Systems is a company engaged in the manufacturing of rooftop solar systems and power backup products, including solar panels, inverters, batteries, and EV chargers. Headquartered in Delhi NCR, the company operates manufacturing facilities in Parwanoo, Greater Noida, and Bawal, with upcoming expansion in Dadri and Ratlam, serving residential, commercial, and industrial customers across India.
IPO schedule
Issue open date
2025-11-13
Issue close date
2025-11-17
UPI mandate deadline
2025-11-17 (5 PM)
Allotment finalization
2025-11-18
Refund initiation
2025-11-19
Share credit
2025-11-19
Listing date
2025-11-20
Mandate end date
2025-12-02
Lock-in end date for anchor investors (50%)
2025-12-18
Lock-in end date for anchor investors (remaining)
2026-02-16
Financials
Financial Year Ended
March 2024
March 2025
June 2025
Total Assets
609.6
1013.96
1243.88
Revenue
927.1
1550.09
597.79
Profit After Tax
45.3
156.34
67.59
Issue size
Category
Funds Raised (₹ crores)
Total issue size
828
Fresh Issue - Proceeds go to the company
600
Offer for sale - Proceeds go to the existing investors
228
Utilisation of proceeds
Purpose
INR crores (%)
Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh
180 (30%)
Repayment and/or prepayment of certain outstanding borrowings
275 (45.8%)
General corporate purposes
145 (24.2%)
Strengths
Diversified solar product portfolio across inverters, panels, and batteries.
One-stop solar solutions provider with over 522 SKUs.
Strong pan-India distribution with 670+ distributors and 5,100+ dealers.
Robust R&D and technological innovation in inverter and UPS design.
Consistent financial growth with expanding margins and high ROE.
Risks
Heavy dependence on manufacturing units concentrated in North India.
Significant raw material imports from China expose supply chain risk.
Any operational disruption may affect production and revenues.
Product price volatility could impact margins and cash flow.
Highly competitive solar market with pressure on pricing and innovation.