CG Power and Industrial Solutions has released an update on the utilisation of funds raised through its Qualified Institutions Placement (QIP) for the quarter ended September 30, 2025. The company confirms no deviation or variation in the use of QIP proceeds. Funds were primarily allocated to capital expenditure and strategic initiatives, particularly investments in CG Semi Private Limited. A total of ₹132.36 Crores was utilized out of the allocated ₹1,062.85 Crores.
QIP Fund Allocation
CG Power and Industrial Solutions Limited confirms that there has been no deviation or variation in the utilisation of funds raised through Qualified Institutions Placement (QIP) for the quarter ended September 30, 2025. The update was reviewed by the Audit Committee on October 29, 2025.
Investment in CG Semi Private Limited
A significant portion of the QIP funds was allocated to investment in the company’s subsidiary, CG Semi Private Limited, to fund capital expenditure. Out of an allocated ₹1,062.85 Crores, a total of ₹132.36 Crores has been utilized.
Fund Utilisation Details
The company has infused funds of ₹184.67 Crores into CG Semi Private Limited. CG Semi has utilised ₹132.36 Crores, with the remaining ₹52.31 Crores temporarily invested in Mutual Funds. An amount of ₹20.08 Crores out of allocated ₹601.78 Crores for setting up of a power transformer plant has been utilised.
Source: BSE
