CG Power and Industrial Solutions Limited has released the Monitoring Agency report for the quarter ending March 31, 2026. The report details the utilization of proceeds from its ₹3,000 crore Qualified Institutions Placement (QIP). The company shows no material deviations in project funding, with ongoing investments in semiconductor assembly facilities and power transformer production progressing as planned toward their Fiscal 2029 target completion dates.
Utilization of QIP Proceeds
The company successfully raised ₹3,000 crore through its QIP, which concluded on July 3, 2025. As of the quarter ended March 31, 2026, the monitoring report indicates that funds are being deployed effectively across the specified core objects. There have been no material deviations in the utilization of these proceeds compared to the original objectives set out in the offer document.
Progress on Key Strategic Projects
Strategic initiatives remain on track, with several key investments moving forward:
- Semiconductor OSAT Facility: The investment in the subsidiary, CG Semi Private Limited, for an Outsourced Semiconductor Assembly and Test (OSAT) facility continues, with ₹184.67 crore utilized as of the end of the quarter.
- Power Transformer Expansion: The company has utilized ₹119.87 crore toward setting up a new power transformer plant and developing associated leasehold land, including ₹56.43 crore spent during Q4 (Jan-Mar) 2026.
- Semiconductor Design: ₹50 crore has been utilized for investment in the subsidiary Axiro Semiconductor Private Limited, which focuses on semiconductor chip design.
Financial Deployment Status
The total unutilized proceeds amounting to ₹2,619.20 crore are currently deployed in low-risk financial instruments, primarily Fixed Deposits with major banks (SBI, HDFC Bank, and Axis Bank) and SBI Liquid Funds, ensuring capital preservation while earning consistent returns. All major projects, including the semiconductor and power transformer initiatives, maintain an ongoing status with an expected completion timeline by Fiscal 2029, and no implementation delays have been reported.
Source: BSE
