Fujiyama Power Systems Limited has submitted to the exchange the Monitoring Agency report on utilisation of the proceeds raised through issuance of equity shares by way of Public Issue for the Quarter ended December 31, 2025.
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Fujiyama Power Systems Limited has submitted the Monitoring Agency Report from CARE Ratings for its Rs. 600 crore IPO (held November 13–17, 2025) covering Q3FY26. Of the total proceeds, Rs. 468.25 crore has been utilised so far, leaving Rs. 131.75 crore unutilised. The Rs. 275 crore allocated for repayment of borrowings has been fully utilised, while Rs. 75.72 crore was spent on the new manufacturing facility in Ratlam, Rs. 111.99 crore on general corporate purposes (raw material procurement), and Rs. 5.54 crore on issue expenses. The remaining ~Rs. 100 crore is parked in fixed deposits with Axis Bank and HSBC Bank, with Rs. 31.75 crore still in the monitoring and public offer accounts. No deviation from the stated objects was reported.
Positive signal for shareholders — IPO funds are being deployed as per the offer document with no deviations, and the entire borrowing repayment objective has already been met. However, note that ~Rs. 100 crore parked in FDs lacked prior Board approval during the quarter (later ratified on January 31, 2026), which is a minor governance flag.