+
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)

    Next Story
    Infrastructure Transport

    Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

    Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

    Next Story
    Infrastructure Urban

    CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

    In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

    Next Story
    Infrastructure Urban

    Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

    Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

    Advertisement

    Subscribe to Our Newsletter

    Get daily newsletters around different themes from Construction world.

    STAY CONNECTED

    Advertisement

    Advertisement

    Advertisement

    Talk to us?