Rooftop solar solutions and products company, Fujiyama Power Systems, has approved the acquisition of an additional 31% equity stake in Zayo Energy and Zayo Cables.

Delhi-based Zayo Energy manufactures solar panel components, including ethylene vinyl acetate sheets, junction boxes, and backsheets. Zayo Cables manufactures electrical and electronic wires and cables, including insulated wires made of steel, copper, and aluminum.

The acquisition is expected to be completed within 30 days.

Fujiyama currently holds a 19% stake in each of the two firms. After acquiring the additional 31% stake, its total shareholding in both Zayo Energy and Zayo Cables will increase to 50%.

Fujiyama will acquire additional shares in each company for ₹31,000 (~$329). The transaction will be executed through cost consideration.

In January 2026, Fujiyama Power commissioned a 1 GW solar cell manufacturing facility in Dadri, Uttar Pradesh. The facility, developed with a total investment of ₹3 billion (~$32.7 million), manufactures Mono PERC solar cells that meet the domestic content requirement.

Last year, the company debuted on the BSE and the National Stock Exchange after its initial public offering of ₹8.28 billion (~$93.5 million) was oversubscribed 2.14 times.

Fujiyama said it plans to utilize proceeds from the fresh issue portion of the IPO, amounting to ₹2.5 billion (~$29.20 million), to establish a module manufacturing facility in Ratlam, Madhya Pradesh, ₹3 billion (~$35.05 million) to repay outstanding borrowings, and the rest for general corporate purposes.

The company operates three manufacturing facilities. At its Greater Noida facility in Uttar Pradesh, it produces solar modules with a capacity of 439 MW, inverters and electronics with a capacity of 1,143 MW, e-rickshaw chargers, and lithium-ion batteries with a capacity of 45 MWh.

Its Parwanoo facility in Himachal Pradesh produces solar power conditioning units and uninterruptible power supplies. Its Bawal facility in Haryana produces tubular batteries with a capacity of 1,318 MWh.

In its draft red herring prospectus, Fujiyama said it plans to add 600 MW of solar module manufacturing capacity, 600 MW of solar inverter manufacturing capacity, and 500 MWh of Li-ion battery manufacturing capacity at its Greater Noida facility.