| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹828.00 Cr |
| Fresh Issue | ₹600.00 Cr |
| Offer for Sale | ₹228.00 Cr |
| Face Value | โน1 Per Equity Share |
| Price Band | โน216.00-228.00 per share |
| BSE Code | 544613 |
| NSE Code | UTLSOLAR |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers | SBI Capital Markets Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 65 shares and in multiples thereof
Founded in 2017, Fujiyama Power Systems Limited manufactures products and provides solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems. The company has designed an extensive product portfolio of over 522 SKUs, including solar inverters, panels, and batteries, to reduce customer reliance on alternative OEMs.
The company serves customers via an extensive distribution network with over 725 distributors, 5,546 dealers, and 1,100 exclusive โShoppeโ franchisees trained to understand customer needs and supply customized solar systems. Additionally, we have over 602+ qualified service engineers providing maintenance and technical support.
The company offers a wide range of products, including solar PCUs, off-grid, on-grid, and hybrid inverters, solar panels, PWM chargers, other battery chargers, lithium-ion and tubular batteries, online and offline UPS systems, solar management units, and charge controllers.
The company has four manufacturing facilities in Greater Noida, Uttar Pradesh, Parwanoo, Himachal Pradesh, Ba2017wal, Haryana and Dadri, UP.
The company's production systems are certified under ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health and Safety).
The company exports its products to countries such as the USA and several Asian countries, including Bangladesh and the UAE.
Competitive Strength
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (โน Cr.) |
|---|---|---|
| 1 | Part financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India | 180.00 |
| 2 | Repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by our Company | 275.00 |
| 3 | General corporate purposes | 112.32 |
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,243.88 | 1,013.96 | 609.64 | 514.56 |
| Total Income | 597.79 | 1,550.09 | 927.20 | 665.33 |
| Profit After Tax | 67.59 | 156.34 | 45.30 | 24.37 |
| EBITDA | 105.89 | 248.52 | 98.64 | 51.60 |
| NET Worth | 464.34 | 396.82 | 239.54 | 193.08 |
| Reserves and Surplus | 436.33 | 368.81 | 215.00 | 70.55 |
| Total Borrowing | 432.83 | 346.22 | 200.19 | 211.14 |
| Amount in ₹ Crore | ||||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 39.40% |
| ROCE | 41.01% |
| Debt / Equity | 0.87% |
| RoNW | 39.40% |
| PAT Margin | 10.15% |
| EBITDA Margin | 16.13% |
| Price to Book Value | 16.09 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (โน) | 5.58 | 8.82 |
| P/E (x) | 40.85 | 25.84 |
| Promoter Holding | 99.67% | 87.88% |
| Market Cap | โน6986.17 Cr. | |