New Delhi, March 7 -- Greater-Noida-based Fujiyama Power Systems has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The IPO is a combination of a fresh issue of equity shares worth up to Rs.700 crore and an offer-for-sale (OFS) of up to 2 crore shares by promoters, according to Draft Red Herring Prospectus (DRHP) filed on December 28.

Under the OFS, one crore equity shares each will be offloaded by Pawan Kumar Garg and Yogesh Dua.

The company may consider raising Rs.140 crore through a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced.

The net proceeds from the fresh issue are proposed to be utilised by the company towards fina...