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Fujiyama Power Systems Limited, an India-based company that owns the UTL Solar brand, has approved acquisitions in two Zayo entities. Its Board of Directors have approved acquiring 31% paid-up equity share capital in ZEPL and ZCPL on April 25, 2026. Fujiyama currently holds 1,900 equity shares, or 19%, in both entities. After acquiring 3,100 equity shares in each company, its holding will reach 5,000 shares, aggregating to 50%. Each acquisition is valued at INR 31,000 (~$341) and will be completed through cash consideration. ZEPL manufactures solar panel products such as EVA sheets, junction boxes, backsheets, and other products. ZCPL manufactures electronic and electric wires and cables, including insulated cable made of steel, copper, and aluminium. Both Zayo entities have paid-up capital of INR 1,00,000 (~$1,100), while their turnover for FY 2024-25 was reported as Nil.
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