Adani Energy Solutions has released its monitoring agency report and statement regarding deviations for the quarter ended September 30, 2025 (Q2 2026), concerning funds raised through Qualified Institutional Placement (QIP). The report, issued by CARE Ratings, indicates some deviations, including a reallocation of funds among objects, due to an increase in capital expenditure. Board approval has been obtained for all deviations.
QIP Fund Utilization Monitoring
Adani Energy Solutions has issued a report on the utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ending September 30, 2025 (Q2 2026). The report includes a monitoring agency review and a statement of deviations, if any, from the initially planned utilization.
Key Findings of the Report
The Monitoring Agency Report indicates a few notable points regarding fund allocation and utilization:
- The original issue size was ₹8,373.10 crore.
- A reallocation of funds between two objects occurred due to an increase in capex outlay for specific projects.
- Revised costs for funding capital expenditure requirements for certain AESL subsidiaries increased from ₹2,060.00 crore to ₹2,860.00 crore.
- Costs decreased for other AESL subsidiaries, specifically in relation to the purchase and installation of smart meters, from ₹1,800.00 crore to ₹1,000.00 crore.
- Board approval was obtained for the reallocation of funds to address the changing capital expenditure needs.
Explanation of Deviations
The reallocation of funds stemmed from an increase in capital expenditure requirements, necessitating the transfer of funds between different objects. All changes have received appropriate board authorization. This reallocation has led to no delays in project implementation, with projects still on track for completion as per the initial timelines.
Source: BSE
