Hitachi Energy India has confirmed that there was no deviation or variation in the utilisation of funds raised through its Qualified Institutional Placement (QIP) for the quarter ended June 30, 2026. The statement, reviewed by the Audit Committee, aligns with the objects outlined in the Placement Document dated March 13, 2025. Utilisation was reported for capital expenditure and working capital requirements.
No Deviation in QIP Fund Utilisation
Hitachi Energy India Limited has formally reported that there has been no deviation or variation in the use of proceeds raised from its Qualified Institutional Placement (QIP). This confirmation pertains to the financial quarter that concluded on June 30, 2026.
The statement was reviewed and approved by the company’s Audit Committee during its meeting held on August 07, 2026. This declaration ensures transparency and adherence to the objectives stated in the original Placement Document, which was dated March 13, 2025.
Fund Utilisation Details
For the quarter ended June 30, 2026, the company detailed the utilisation of funds:
- Capital Expenditure Requirements: An amount of Rs. 634.63 Crores was utilised. This utilisation is attributed to capacity increase, equipment addition, and civil works.
- Working Capital Requirements: Nil utilisation was reported for the working capital requirements during the reported quarter.
- General Corporate Purposes: Nil utilisation was reported for general corporate purposes during the reported quarter.
The total net proceeds raised through the QIP amounted to Rs. 2,476.29 Crores. The statement reaffirms that the utilisation of these funds remains strictly in line with the approved objects, providing assurance to stakeholders regarding prudent financial management.
Source: BSE
