Fujiyama Power Systems' board OKs to invest Rs 5-cr in Zayo Energy

Fujiyama Power Systems announced that its board has entered into a compulsorily convertible debenture (CCD) subscription agreement with its associate company, Zayo Energy (ZEPL), aggregating to Rs 5 crore.

ZEPL is engaged in the manufacturing of PV ribbon wire, PV busbar, copper wires, solder bars & solder wires and manufacturing of aluminium frame used in solar panels which will include foundry, extrusion, anodizing & cutting punching of aluminium and manufacturing of different solar panels products like EVA sheet, junction boxes, backsheet & other products.

The proposed investment is expected to facilitate backward integration, strengthen Fujiyama Power Systems' value chain and create operational and strategic synergies between the two companies.

Under the agreement, the company will subscribe to 833 CCDs at a value of Rs 60,093 per debenture, including a face value of Rs 10 and a premium of Rs 60,083, aggregating to Rs 5,00,57,469. The acquisition and allotment of the CCDs are expected to be completed within 60 days from the date of approval.

Fujiyama Power Systems currently holds a 50% stake in ZEPL. The company's shareholding is expected to change following the conversion of the CCDs into equity share capital in accordance with the agreed terms and conditions.

Fujiyama Power Systems is a rooftop solar solutions provider offering an extensive portfolio across solar panels, inverters, lithium and tubular batteries, chargers and power-electronics systems. The company?s consolidated net profit declined 14.50% to Rs 57.79 crore in Q1 FY27, compared with Rs 67.59 crore in Q1 FY26. Net sales surged 125.28% YoY to Rs 1,345.69 crore in Q1 FY27.

The counter rose 0.10% to settle at Rs 429.40 on the BSE.

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