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Fujiyama Power Systems IPO subscribed 40%

14-Nov-25 17:10 Hrs IST

Fujiyama Power Systems received bids for 1,04,25,935 shares as against 2,63,47,221 shares on offer, according to stock exchange data at 17:00 IST on Friday (14 November 2025). The issue was subscribed 0.40 times.

The issue opened for bidding on 13 November 2025 and it will close on 17 November 2025. The price band of the IPO is fixed between Rs 216 and 228 per share.

The issue comprises both fresh issue of equity shares of Rs 1 face value, aggregating Rs 600 crore, and offer for sale of 1,00,00,000 equity shares by promoters (50,00,000 equity shares each by Pawan K Garg & Yogesh Dua).

Of the net proceeds from the fresh issue, the company intend to spend Rs 180 crore towards part financing the cost of establishing the manufacturing facility at Ratlam and Rs 275 crore towards repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the company and balance for general corporate purposes.

Outstanding borrowing as on 30 September 2025 stood at Rs 687.654 crore.

Fujiyama Power Systems is a manufacturer of products and solution provider in the roof-top solar industry, including on-grid, off-grid and hybrid solar systems. It manufactures solar panel manufacturing, solar inverter manufacturing (covering on-grid, hybrid, and off-grid solutions), and both lead acid and lithium-ion battery production.

UTL Solar and Fujiyama Solar, the two brands of the company, have strong brand recall. UTL Solar has a legacy of 29 years.

The company offers over 522 SKUs with various combinations that can be tailored to meet the specific preferences and requirements of the customer and their location About 42.96% of the revenue from operations in FY 2025 was accounted for by solar panels, 20.58% from batteries, 29.83% from inverter chargers and UPS and balance 6.63% from services and other operating income.

As on June 30, 2025, the company had an extensive pan-India distribution network of 725 distributors and 5,546 dealers and 1,100 exclusive UTL solar `Shoppe' franchisees. The company also exports its products and solutions to the USA and a few countries in Asia, including Bangladesh and the UAE. Export sales account for 2.45% and 4.19% in FY2025 and FY2024, respectively.

Ahead of the IPO, on 12 November 2025, the company raised Rs 246.89 crore from anchor investors, by allotting 1.08 crore shares at Rs 228 each to 15 anchor investors.

For the quarter ended 30 June 2025, Fujiyama Power Systems reported a consolidated net profit of Rs 67.59 crore on sales of Rs 597.35 crore.

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1	30-10-2025		RFP for Vehicle Hiring
2	02-09-2025	IT	RFP for Procurement of Server	Closed
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			C. Financial Bid
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3	21-08-2025	IT	RFP for Procurement of Server	Closed
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4	14-07-2025		RFP document for the Cloud Voice Logger	Closed
			A. General Information
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			C. Financial Bid
			D. Technical BID Meeting Link
			E. Financial Bid Meeting Link
5	01-04-2025	IA	REQUEST FOR PROPOSAL FOR APPOINTMENT OF CONCURRENT INTERNAL AUDITORS FOR PERIOD APRIL 2025 – MARCH 2026
6	01-04-2025	IA	REQUEST FOR PROPOSAL FOR APPOINTMENT OF INTERNAL AUDITORS FOR PERIOD APRIL 2025 – MARCH 2026 - IFCI
7	24-04-2025	IT	RFP for Services of IT Infrastructure Shifting & Configuration	Closed
			A. General Information
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8	18-02-2025	IT	RFP for Procurement of HP Hard Disk	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
9	18-02-2025	IT	RFP for Procurement of HP Server	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
10	07-12-2024	Administration	RFP for office premises on lease at Chennai	Closed
			A. News Paper Article
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Pre Bid Meeting Link
			F. Technical BID Meeting Link
			G. Financial BID Meeting Link
11	10-06-2024	IA	RFP for appointment of internal auditors for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
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12	10-06-2024	IA	RFP for appointment of internal auditors and Concurrent Audit for period April 2024 – March 2025	Active upto 21/06/2024 end of the day
13	22-11-2023	Compliance	Procurement of AML/PML software Solution - VC Meeting Link for opening of Tender Box on 22/11/2023 at 4.30 pm	Closed
14	16-10-2023	Compliance	RFP for Procurement of AML/PML software solution
	06-11-2023	Compliance	A. Addendum - Extension Period for procurement of AML/PML sofware solution
15	28-10-2024	IT	RFP for Procurement of Firewall	Closed
				A. General Information
			B. Technical Bid
			C. Financial Bid
16	12-07-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch
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			B. General Information
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			D. Financial Bid
17	07-07-2023	CS	RFP for Secretarial Audit
18	26-06-2023	IT	RFP for AMC of Online UPS system installed at IFINs Branch office	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
19	16-06-2023	IT	E-tender for engagement of annual system audit and cyber security audit agency	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
20	15-06-2023	IT	RFP for AMC of 30KVA Online UPS system	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
21	30-05-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch	Cancelled
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Extension of RFP
			F. Closure of RFP
22	24-05-2023	ADMIN	RFP for Premises on Lease for Salem Branch	Closed
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
23	24-04-2023	IA	Extension Of RFP iCOM IA for FY 2023-2024	Closed
24	25-04-2023	CS	Extension Of RFP for Seeking Quotations for Secretarial Audit Of IFIN Group for FY 2022-2023	Cancelled
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25	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024	Closed
26	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024 for operations, accounts and control related activities.	Closed
27	24-04-2023	CS	RFP PCS Empannelment for ROC filing 2022-23	Closed
28	24-04-2023	IA	RFP For Appointment Of Internal Auditor iCOM 23-24	Closed
29	14-03-2023	IA	RFP for appointment of internal auditor in the iCOM	Closed
30	25-04-2023	CS	RFP For Secretarial Audit 22-23	Closed