Fujiyama Power Systems IPO date: Price band set at ₹216 to ₹228 per share; check lot size and key details

Fujiyama Power Systems IPO date: Rooftop solar solutions provider Fujiyama Power Systems has set a price band of ₹216 to ₹228 per share for its initial public offering, which will be open from November 13 to November 17. The bidding for anchor investors will take place on November 12.

The ₹828 crore initial share sale is a fresh issuance of shares worth ₹600 crore and an offer for sale of shares aggregating to ₹228 crore by promoters Pawan Kumar Garg and Yogesh Dua.

The fresh issue proceeds will be utilised for part-financing the set-up of a manufacturing facility in Madhya Pradesh's Ratlam, debt repayment and general corporate purposes.

Fujiyama Power Systems IPO: Lot size

A lot consists of 65 shares and in multiples thereafter. The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Fujiyama Power Systems IPO: Key dates

• Subscription period: November 13 to November 17
• Basis of allotment: November 18
• Initiation of refunds: November 19
• Credit of shares to Demat account: November 19
• Listing on NSE and BSE: November 20

Motilal Oswal Investment Advisors and SBI Capital Markets are the issue's book-running lead managers, while MUFG Intime India is the registrar.

Fujiyama Power Systems is a manufacturer of products and a solution provider in the rooftop solar industry, including off-grid, on-grid and hybrid solar systems. Its brands include UTL Solar and Fujiyama Solar.

It has designed and developed a vast portfolio of over 522 SKUs, which include a full range of solar panels, solar inverters and batteries. It has a pan-India distribution network of 725 distributors, over 5,500 dealers and 1,100 exclusive 'Shoppee' franchisees.

Fujiyama Power Systems financials