Fujiyama Power Plans IPO to Fund Expansion
POWER & RENEWABLE ENERGY

Fujiyama Power Plans IPO to Fund Expansion

Noida-based rooftop solar solutions provider Fujiyama Power Systems (UTL Solar) has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO). The IPO, with a face value of Rs 1 per share, includes a fresh issue of shares worth Rs 7 billion and an offer-for-sale of up to 20 million shares.

Proceeds from the fresh issue will be allocated as follows: Rs 2.5 billion for establishing a manufacturing facility in Ratlam, Madhya Pradesh, Rs 3 billion for debt repayment, and the remaining for general corporate purposes. The company may also raise Rs 1.4 billion through a pre-IPO placement, which would reduce the size of the fresh issue.

Motilal Oswal Investment Advisors and SBI Capital Markets will act as the book-running lead managers, while Link Intime India is the registrar for the IPO.

Fujiyama specialises in rooftop solar solutions and manufactures solar modules, inverters, and lithium-ion batteries. It also supplies chargers and batteries for electric rickshaws. The company operates three manufacturing facilities:

  • Greater Noida, Uttar Pradesh: Solar modules (439 MW), inverters (1,143 MW), e-rickshaw chargers, and Li-ion batteries (45 MWh).
  • Parwanoo, Himachal Pradesh: Solar power conditioning units and UPS.
  • Bawal, Haryana: Tubular batteries (1,318 MWh).
  • The company is expanding its capacity with a new 600 MW solar module facility in Dadri, Uttar Pradesh, and additional capacities of 600 MW each for solar modules and inverters, and 500 MWh for Li-ion batteries at Greater Noida.

    To address rising demand in western and southern India, Fujiyama plans an integrated facility in Ratlam, Madhya Pradesh, capable of producing 2,000 MWh of Li-ion batteries and 2,000 MW each of solar modules and inverters. Under the Madhya Pradesh Industrial Promotion Policy, 2014, the company aims to secure a 40% subsidy of up to Rs 1.5 billion for this project.

    Fujiyama's distribution network spans over 480 distributors, 3,600 dealers, and 1,000 exclusive franchisees across India.

    In a similar development, Maharashtra-based agri-solar solutions provider GK Energy has filed a DRHP to raise Rs 5.01 billion through an IPO, comprising a fresh issue of Rs 5 billion and an offer-for-sale of Rs 16.8 million.

    (Mercom)

    Noida-based rooftop solar solutions provider Fujiyama Power Systems (UTL Solar) has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO). The IPO, with a face value of Rs 1 per share, includes a fresh issue of shares worth Rs 7 billion and an offer-for-sale of up to 20 million shares. Proceeds from the fresh issue will be allocated as follows: Rs 2.5 billion for establishing a manufacturing facility in Ratlam, Madhya Pradesh, Rs 3 billion for debt repayment, and the remaining for general corporate purposes. The company may also raise Rs 1.4 billion through a pre-IPO placement, which would reduce the size of the fresh issue. Motilal Oswal Investment Advisors and SBI Capital Markets will act as the book-running lead managers, while Link Intime India is the registrar for the IPO. Fujiyama specialises in rooftop solar solutions and manufactures solar modules, inverters, and lithium-ion batteries. It also supplies chargers and batteries for electric rickshaws. The company operates three manufacturing facilities: Greater Noida, Uttar Pradesh: Solar modules (439 MW), inverters (1,143 MW), e-rickshaw chargers, and Li-ion batteries (45 MWh). Parwanoo, Himachal Pradesh: Solar power conditioning units and UPS. Bawal, Haryana: Tubular batteries (1,318 MWh). The company is expanding its capacity with a new 600 MW solar module facility in Dadri, Uttar Pradesh, and additional capacities of 600 MW each for solar modules and inverters, and 500 MWh for Li-ion batteries at Greater Noida. To address rising demand in western and southern India, Fujiyama plans an integrated facility in Ratlam, Madhya Pradesh, capable of producing 2,000 MWh of Li-ion batteries and 2,000 MW each of solar modules and inverters. Under the Madhya Pradesh Industrial Promotion Policy, 2014, the company aims to secure a 40% subsidy of up to Rs 1.5 billion for this project. Fujiyama's distribution network spans over 480 distributors, 3,600 dealers, and 1,000 exclusive franchisees across India. In a similar development, Maharashtra-based agri-solar solutions provider GK Energy has filed a DRHP to raise Rs 5.01 billion through an IPO, comprising a fresh issue of Rs 5 billion and an offer-for-sale of Rs 16.8 million. (Mercom)

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