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Established in 2017, Fujiyama Power Systems Limited produces products and solutions for the rooftop solar sector, such as on-grid, off-grid, and hybrid solar systems. The company has created a vast product portfolio of more than 500 SKUs, ranging from solar inverters, panels, and batteries, designed to minimize customer dependence on other OEMs.The Company serve customers through a large distribution network of more than 480 distributors, 3,600 dealers, and 1,000 exclusive 'Shoppe' franchisees who are trained to read customer requirements and provide tailor-made solar systems. We also have more than 400 experienced service engineers delivering maintenance and technical support.The company deals with a broad portfolio of products such as solar PCUs, off-grid, on-grid, and hybrid inverters, solar panels, PWM chargers, other battery chargers, lithium-ion and tubular batteries, online and offline UPS systems, solar management units, and charge controllers. The company has three production units in Greater Noida, Uttar Pradesh, Parwanoo, Himachal Pradesh and Bawal, Haryana.The production systems of the company are certified to ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health and Safety).The products of the company are exported to nations like the USA and various countries in Asia, including Bangladesh and the UAE.The company had 1,808 full-time employees as of September 30, 2024.
Sotefin Bharat
| Companies Name | Open - Close | Issue Size | Min. Qty | Issue Price | Apply |
|---|---|---|---|---|---|
Sotefin Bharat SME | 16th Jul 2026 - 20th Jul 2026 | 89.76 Cr | 600 Shares | ₹ 178.00 | |
Caliber Mining & Logistics Mainboard | 17th Jul 2026 - 21st Jul 2026 | 450.00 Cr | 35 Shares | ₹ 402.00 |

Open Date
13 Nov 2025
Close Date
17 Nov 2025
Min Investment
₹14820
Lot Size
65 Shares
Issue Size
₹828 Cr
Price Range
₹216 - ₹228
Listing Date
Nov 20, 2025
IPO Doc
RHP PDFRevenue Growth
Company Valuation
Earning Expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.
₹180 crore will partially finance the establishment of a manufacturing facility in Madhya Pradesh. ₹275 crore is intended for the repayment of certain outstanding company borrowings. Part of the IPO proceeds will be used for general corporate purposes.
Investment in manufacturing facility
30%
Repayment of loans
45.83%
General corporate purposes
24.17%
₹180 crore will partially finance the establishment of a manufacturing facility in Madhya Pradesh.
₹275 crore is intended for the repayment of certain outstanding company borrowings.
Part of the IPO proceeds will be used for general corporate purposes.
Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).
In Cr.
| Key Performance Indicator | 30-Jun-25 (In Cr.) | 31-Mar-25 (In Cr.) | 31-Mar-24 (In Cr.) | 31-Mar-23 (In Cr.) |
|---|---|---|---|---|
| Revenue | 597.79 | 1,550.09 | 927.20 | 665.33 |
| EBITDA | 105.89 | 248.52 | 98.64 | 51.60 |
| Expenses | ||||
| Profit After Tax | 67.59 | 156.34 | 45.30 | 24.37 |
| Assets | 1,243.88 | 1,013.96 | 609.64 | 514.56 |
| Net Worth | 464.34 | 396.82 | 239.54 | 193.08 |
| Reserves | 436.33 | 368.81 | 215.00 | 70.55 |
| Borrowing | 432.83 | 346.22 | 200.19 | 211.14 |
Pawan Kumar Garg
Yogesh Dua
Sunil Kumar
99.67%
87.88%
Fujiyama Power Systems
53A/6, Near NDPL Grid Office, Near Metro Station Sat Guru Ram Singh Marg Delhi, New Delhi, 110015
MUFG Intime India Pvt.Ltd
The company operates advanced manufacturing facilities across Greater Noida, Parwanoo, Bawal, and Dadri, with an installed capacity of 2,182 MW across solar products and 1,363 MWh of batteries as of FY25. The facilities are ISO 9001:2015, 14001:2015, and 45001:2015 certified, integrating automation and quality control systems like TQM, KAIZEN, and 5S. Ongoing capacity expansions include a 1 GW solar cell line at Dadri and a new integrated Ratlam facility, which are set to double capacity and enhance backward integration, improving cost efficiency and margins.
Uttar Pradesh alone contributed 42.18% of total retail sales in Q1FY26 and 35.61% in FY25, making Fujiyama’s growth highly sensitive to regional demand. The company’s top five states contributed 77.10% of total retail sales in Q1FY26. Any decline in demand, regulatory changes, or competition in these regions can impact the business operations and revenue.
Procurement from the top 10 suppliers accounts for 47.06% of total purchases, with no long-term contracts in place. The company relies on a purchase order system, exposing it to volatility in raw material pricing and supply continuity. Any disruption from key suppliers or a surge in global commodity or freight costs could directly affect production and profitability.