Higher-Noida-based Fujiyama Energy Programs has filed preliminary papers with capital markets regulator Sebi to lift funds via an preliminary public providing (IPO).
The IPO is a mix of a contemporary problem of fairness shares price as much as ₹700 crore and an offer-for-sale (OFS) of as much as 2 crore shares by promoters, in response to Draft Crimson Herring Prospectus (DRHP) filed on December 28.
Underneath the OFS, one crore fairness shares every shall be offloaded by Pawan Kumar Garg and Yogesh Dua.
The corporate could think about elevating ₹140 crore via a pre-IPO placement. If such placement is accomplished, the contemporary problem dimension shall be decreased.
The online proceeds from the contemporary problem are proposed to be utilised by the corporate in direction of financing the price of establishing the manufacturing facility in Ratlam, Madhya Pradesh, reimbursement of debt, and common company functions.
Fujiyama Energy Programs is a producer of merchandise and answer supplier within the roof-top photo voltaic trade, together with on-grid, off-grid and hybrid photo voltaic techniques. The corporate has constructed a model recall and fame within the trade via its manufacturers ‘UTL Photo voltaic’, which has a legacy of 28 years, and Fujiyama Photo voltaic.
It has developed three manufacturing amenities and R&D capabilities domestically, with a constant deal with technological improvement and product innovation.
Within the final three monetary years and 6 months ended September 30, 2024, Fujiyama Energy Programs have bought 12.25 lakh photo voltaic panels (458.14 MW), 6.31 lakh photo voltaic inverters (1,065.83 MW), and eight.52 lakh batteries (1,672.17 MWh).
The agency can also be within the strategy of growing a brand new facility for manufacturing photo voltaic panels in Dadri, Uttar Pradesh and putting in one other inverter line at its Higher Noida facility.
For the six months ended September, Fujiyama clocked a internet revenue of ₹75.1 crore towards income of ₹721.7 crore.
Motilal Oswal Funding Advisors Ltd and SBI Capital Markets Ltd are the book-running lead managers, whereas Hyperlink Intime India Pvt Ltd is the registrar of the difficulty.
The shares of the corporate are proposed to be listed on the Nationwide Inventory Trade (NSE) and BSE.
