Fujiyama Power Systems Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by CARE Ratings Limited, details the utilization of funds raised through its Initial Public Offer (IPO). The company confirmed that proceeds were utilized in line with the objects stated in the offer document, with no material deviations observed. A fire incident at the Bawal, Haryana facility in May 2026 resulted in an exceptional loss of ₹143.58 crore in Q1FY27.
Monitoring Agency Report for Q2 FY27 Submitted
Fujiyama Power Systems Limited has officially filed its Monitoring Agency Report for the second quarter of the financial year 2027, which concluded on September 30, 2026. This report provides an update on the utilization of the proceeds raised from the company’s Initial Public Offer (IPO).
Proceeds Utilization Overview
The report, prepared by CARE Ratings Limited, confirms that the utilization of IPO proceeds aligns with the objectives disclosed in the offer document. As per the report, there were no deviations observed from the stated objects for the quarter. The total IPO size was Rs. 600.00 crore.
Objects of the Issue
The monitored objects include part financing the manufacturing facility in Ratlam, Madhya Pradesh (₹180.00 crore original cost), repayment of borrowings (₹275.00 crore), general corporate purposes (₹112.32 crore), and issue expenses (₹32.68 crore). As of September 30, 2026, the total unutilized proceeds amounted to ₹4.86 crore. The company had fully utilized the funds allocated for the manufacturing facility, borrowings, and general corporate purposes in previous quarters.
Key Operational Updates and Financials
A significant event noted was a fire incident at the company’s manufacturing facility in Bawal, Haryana, on May 06, 2026. This incident led to the company recognizing an exceptional loss of ₹143.58 crore in Q1FY27. The report also highlights that the unutilized proceeds are held in a Public Offering account (₹2.42 crore) and a Monitoring account (₹2.44 crore).
Implementation Progress
The completion date for establishing the manufacturing facility was initially March 31, 2026, with an extension to June 30, 2026. The repayment of borrowings had a board-approved extension to June 30, 2026, from the original March 31, 2026 deadline. General corporate purposes were also extended to June 30, 2026. The utilization of issue expenses is marked as ‘Ongoing’, with no specific timeline mentioned in the offer document.
Source: BSE
