Fujiyama Power Systems Limited board has approved raising up to ₹1,200 crore through a Qualified Institutions Placement (QIP). This capital infusion aims to achieve and maintain the minimum public shareholding requirements mandated by regulators.

The decision was taken during the board meeting held on October 15, 2026. The company will seek shareholder approval for the issue via postal ballot. A dedicated QIP Committee has been constituted to determine the size, timing, price, and allocation of shares to eligible Qualified Institutional Buyers (QIBs).

Capital structure adjustments

In addition to the proposed QIP, the board approved the allotment of 4,11,587 equity shares under the Employee Stock Option Plan 2023 (ESOP 2023). These shares were issued to eligible employees upon exercise of options at an exercise price of ₹398.39 per share.

This allotment increased the company's paid-up equity share capital from ₹30,69,01,762 to ₹30,73,13,349. The new shares rank pari passu with existing equity shares. The company is currently completing formalities for listing and trading approvals.

Key transaction details

What the numbers show

The simultaneous approval of a large-scale QIP and minor ESOP allotment highlights a dual focus on regulatory compliance and employee retention. The QIP size of ₹1,200 crore is substantial relative to the current paid-up capital of approximately ₹30.7 crore, indicating a significant potential dilution or restructuring of the promoter holding to meet float requirements. The ESOP exercise price of ₹398.39 provides a benchmark for recent internal valuation perceptions, while the QIP pricing remains subject to market determination by the newly formed committee.

Fujiyama Power Systems Limited has submitted the voting results for its ninth Annual General Meeting (AGM) held on September 25, 2026. The company confirmed that all resolutions set out in the AGM notice were passed by members with the requisite majority.

The submission, made to BSE and NSE under Regulation 44 of SEBI Listing Regulations, includes the consolidated scrutinizer's report issued by M/s Raghav Bansal & Associates. The report details the vote counts for each agenda item, reflecting strong support from the promoter group and institutional investors.

Key resolutions transacted

Shareholders approved several critical governance and operational items during the session. The primary resolutions included the adoption of audited financial statements and the re-appointment of a retiring director. Additionally, the board addressed auditor appointments and administrative changes to the company's articles.

Voting outcomes and attendance

The meeting was chaired by Pawan Kumar Garg, Chairman and Joint Managing Director. Voting rights were determined based on shareholding as of the cut-off date, September 18, 2026. A total of 77,786 shareholders were on record, with 129 attending via video conferencing.

The promoter group, holding 265,865,270 shares, voted in favor of all resolutions. Public institutions voted against the re-appointment of Mr. Sunil Kumar with 32.60% dissent, though the resolution passed with an overall 98.21% approval. Other resolutions received near-unanimous support, with dissent votes remaining negligible across all categories.

Governance and compliance details

The company confirmed that both the Statutory Auditors' Report and the Secretarial Audit Report for FY26 contained no qualifications, reservations, adverse remarks, or disclaimers. This clean audit opinion signals robust internal controls and accurate financial reporting for the fiscal year ended March 31, 2026.

Representatives from M/s S.N. Dhawan & Co. LLP, the Statutory Auditors, and M/s Raghav Bansal & Associates attended the meeting. The Company Secretary, Mayuri Gupta, managed the proceedings and facilitated the question-and-answer session for pre-registered members.

Remote e-voting was available from September 22 to September 24, 2026. Members who did not vote remotely could cast their votes during the live virtual meeting. Mr. Raghav Bansal served as the Scrutiniser to ensure transparency in the voting process. The results have been hosted on the company's website and the e-voting agency's platform.