Fujiyama Power Systems IPO – Review
Fujiyama Power Systems Limited, a manufacturer and solutions provider in the rooftop solar industry, is planning to raise ₹828 crore through an IPO.
[Fresh Issue ₹600 Cr + OFS ₹228 Cr]
Fujiyama power systems ipo price is ₹216 – ₹228 per share
Fujiyama Power Systems: History
The Company was originally incorporated as Fujiyama Power Systems Private Limited, a private limited company under the Companies Act, 2013, on December 12, 2017.
The Company was then converted into a public limited company under a special resolution passed by the shareholders on October 10, 2024. Its name was subsequently changed to Fujiyama Power Systems Limited, as per a fresh certificate of incorporation issued by the RoC on November 20, 2024.
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Business
Fujiyama Power Systems Ltd. manufactures products and provides solutions in the rooftop solar industry, including off-grid, on-grid, and hybrid solar systems.
The company offers a diverse range of products, including –
- Solar PCUs,
- Off-grid, On-grid, and Hybrid Inverters,
- Solar Panels,
- PWM & other Battery Chargers,
- Lithium-Ion and Tubular Batteries,
- Online and Offline UPS Systems,
- Solar Management Units, and
- Charge Controllers.

The Company has been recognized as –
- India’s largest Company in off-grid inverters at the Solar Applications and Innovation conference by Sigma Summit in 2019,
- India’s most preferred “smart city brand” by UBM India in 2019, and
- India’s most preferred solar energy brand by Informa Market in 2020.
The company exports its products to Asian countries, Bangladesh, the UAE, and the USA.
Manufacturing Facilities
The company has 4 manufacturing facilities in –
- Bawal, Haryana,
- Dadri, Uttar Pradesh,
- Greater Noida, Uttar Pradesh, and
- Parwanoo, Himachal Pradesh.
Distribution Network
- The company serves clients through an extensive distribution network, comprising over 725 distributors, 1,100 Shoppe franchisees, and 5,546 dealers.
- It has more than 600 qualified service engineers providing technical and maintenance support.
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Strategies Ahead
- Expand the manufacturing base for batteries, inverters, and solar panels, and strengthen back-end integration in solar panels.
- Strengthening domestic distribution and retail network.
- Focus on increasing export sales.
- Address market opportunities with a focus on developing more efficient products.
Company Promoters
- Pawan Kumar Garg,
- Yogesh Dua,
- Sunil Kumar.
Refer to Fujiyama Power Systems IPO RHP for more information.
IPO Details
IPO date: 13 – 17 Nov 2025
Minimum Amount: ₹14,820
Minimum Bid: 65 Shares
Face Value (FV): ₹1
Listing On = NSE, BSE
Book Running Lead Managers
Motilal Oswal Investment Advisors
SBI Capital Markets
Financial

CONCLUSION
FinBlab recommends ‘SUBSCRIBE‘ ratings on Fujiyama Power Systems IPO (keeping long-term view in mind)
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