CG Power and Industrial Solutions Limited announced a statement regarding the utilization of funds raised through a Qualified Institutions Placement (QIP). For the quarter ended December 31, 2025, the company confirms that there has been no material deviation or variation in the use of QIP proceeds. The Audit Committee reviewed and approved this statement on January 27, 2026.
QIP Funds Utilization Update
CG Power and Industrial Solutions Limited has released a statement concerning the deployment of funds obtained through its Qualified Institutions Placement (QIP). The reporting period covers the quarter ending December 31, 2025. The announcement confirms that the utilization of QIP funds aligns with the originally intended purposes.
Key Highlights of the Announcement
The company stated that, as of December 31, 2025, there were no deviations or variations in the allocation of QIP funds. The Audit Committee duly reviewed the statement in its meeting held on January 27, 2026. The total gross proceeds from the QIP were Rs. 3,000 Crores, with net proceeds of Rs. 2,973.97 crores after deducting issue-related expenses of Rs. 26.03 crores (including GST). Details of the original vs. modified allocation and utilization are as follows:
- Investment in CG Semi Private Limited: Originally allocated Rs. 1,062.85 Crores, utilized Rs. 184.67 Crores.
- Funding capital expenditure and strategic initiatives: Setting up a power transformer plant (originally allocated Rs. 601.78 Crores, utilized Rs. 63.44 Crores) and development of a leasehold land (originally allocated Rs. 255.20 Crores).
- Acquisitions and inorganic growth: Originally allocated Rs. 330.00 Crores.
- General corporate purposes: Originally allocated Rs. 724.14 Crores, utilized Rs. 0.23 Crores.
The total utilized amount until December 31, 2025, is Rs. 274.37 Crores.
Source: BSE
