NewsIPOFujiyama Power Systems Launches Rs 828 Crore IPO: Solar Industry Manufacturer Seeks ExpansionFujiyama Power Systems Launches Rs 828 Crore IPO: Solar Industry Manufacturer Seeks Expansion
Fujiyama Power Systems, operating under UTL Solar brand, is launching its IPO on November 13, 2023, aiming to raise Rs 828 crore. The IPO includes a fresh issue of Rs 600 crore and an offer for sale of Rs 228 crore, with a price band of Rs 216-228 per share. The company, a manufacturer of solar panels, inverters, and batteries, reported a net profit of Rs 156.34 crore in FY2023, a 245% YoY growth. IPO proceeds will be used for manufacturing facility expansion, debt repayment, and general corporate purposes. The grey market premium currently stands at nil.
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Fujiyama Power Systems, a prominent player in the solar industry operating under the UTL Solar brand, is set to launch its Initial Public Offering (IPO) on November 13, 2023. The company aims to raise Rs 828 crore through this public issue, marking a significant step in its growth trajectory.
IPO Details
| Particulars | Details |
|---|---|
| IPO Size | Rs 828 crore |
| Fresh Issue | Rs 600 crore |
| Offer for Sale | Rs 228 crore |
| Price Band | Rs 216 - Rs 228 per share |
| Subscription Period | November 13 - 17, 2023 |
| Listing Date | November 20, 2023 |
| Listing Exchanges | BSE and NSE |
Company Overview
Fujiyama Power Systems is a manufacturer in the solar industry, producing a range of products including:
- Solar panels
- Inverters
- Batteries
This diverse product portfolio positions the company as a comprehensive solution provider in the renewable energy sector.
Financial Performance
The company has demonstrated strong financial growth:
| Metric | FY2023 | Growth (YoY) |
|---|---|---|
| Net Profit | Rs 156.34 crore | 245.00% |
| Revenue | Rs 1,540.68 crore | 66.60% |
This robust financial performance underscores the company's strong market position and operational efficiency.
IPO Proceeds Utilization
The funds raised through the IPO will be allocated towards:
- Manufacturing facility expansion
- Debt repayment
- General corporate purposes
These strategic allocations aim to strengthen the company's manufacturing capabilities and improve its financial position.
Market Sentiment
The grey market premium for Fujiyama Power Systems IPO currently stands at nil, indicating expectations of a flat listing. However, it's important to note that grey market premiums are unofficial and can be subject to change.
Conclusion
Fujiyama Power Systems' IPO represents a significant opportunity for investors to participate in the growing solar energy sector. With its strong financial performance and strategic expansion plans, the company is positioning itself for future growth in the renewable energy market. As always, potential investors should conduct their own research and consider their risk appetite before making investment decisions.
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