Hitachi Energy India has released a statement concerning the use of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended December 31, 2025. The company confirms there were no deviations or variations in the utilization of funds raised through the QIP compared to the objects stated in the placement document dated March 13, 2025.
QIP Proceeds Review
Hitachi Energy India confirms that its Audit Committee reviewed the utilization of funds raised via Qualified Institutional Placement (QIP) during its meeting on February 05, 2026. The statement addresses compliance with specified regulations regarding potential deviations or variations in the use of these funds.
No Deviation in QIP Funds
For the quarter ended December 31, 2025, there has been no deviation or variation in the use of proceeds raised through the QIP, relative to the original plan outlined in the placement document dated March 13, 2025.
Details of Fund Utilization
The company raised Rs. 2520.82 Crores (Gross proceeds) and Rs. 2,476.29 Crores (Net Proceeds) through the Qualified Institutional Placement. CRISIL Ratings Limited served as the monitoring agency.
Capital Expenditure Allocation
Out of the funds, Rs. 1,513.28 Crores was originally allocated for funding capital expenditure requirements. As of December 31, 2025, Rs. 110.55 Crores has been utilized for capacity increase, equipment addition, and civil works. There have been no changes or modifications in the allocation objectives.
Working Capital and Corporate Purposes
The company initially allocated Rs. 350.00 Crores for working capital requirements, and Rs. 613.01 Crores for general corporate purposes. As of the reporting date, no funds have been utilized for either of these objectives during the reported quarter.
Source: BSE
