CG Power and Industrial Solutions Limited has confirmed the status of funds raised through its Qualified Institutions Placement (QIP) for the quarter ended 31st March 2026. The company successfully raised Rs. 3,000 crore, with net proceeds of Rs. 2,973.97 crore after adjusting for issue-related expenses. The audit committee has reviewed the utilization of these proceeds, confirming that there were no deviations or variations in the planned deployment of capital.
Fund Allocation Overview
As of the quarter ending March 2026, CG Power has maintained full transparency in the utilization of its Rs. 2,973.97 crore net proceeds from the QIP. The funds were raised to drive strategic expansion and infrastructure development across several key growth verticals. The report confirms that all utilization remains strictly aligned with the original objects disclosed during the fundraising process.
Strategic Investment Breakdown
The company has actively deployed funds into its core growth projects:
- OSAT Facility: Investment in the subsidiary, CG Semi Private Limited, for capital expenditure requirements related to the OSAT facility reached Rs. 184.67 crore.
- Power Infrastructure: Capital expenditure for the power transformer plant has seen an investment of Rs. 119.87 crore to date.
- Corporate Growth: General corporate purposes received an allocation of Rs. 50.23 crore.
Commitment to Capital Discipline
The total utilization for the quarter stands at Rs. 354.77 crore. The Audit Committee, having reviewed these disbursements, has certified that there is no deviation or variation in the use of funds against the originally planned objects. This rigorous oversight ensures that the company remains on track with its expansion goals while maintaining strong fiscal governance.
Source: BSE
