Hitachi Energy India has released its report on the use of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended September 30, 2025 (Q2 2025-26). The report, reviewed by Crisil Ratings Limited, confirms that the QIP proceeds are being utilized as per the disclosures in the offer document, primarily for funding capital expenditure and business expansion. No deviations were noted.
QIP Proceeds Utilization
Hitachi Energy India confirms the utilization of proceeds from its Qualified Institutional Placement (QIP) through September 30, 2025 (Q2 2025-26) is in accordance with the objectives outlined in the offer document. A monitoring agency report from Crisil Ratings Limited, dated November 03, 2025, supports this.
Details of Utilization
The net proceeds from the QIP are allocated to the following:
- Funding capital expenditure: A total of ₹50.33 crore has been utilized, leaving a remaining amount of ₹1462.95 crore.
- Working Capital Requirements: No funds have been allocated during this quarter.
- General Corporate Purposes: No funds have been allocated during this quarter.
Investment of Unutilized Proceeds
Unutilized QIP proceeds are invested in fixed deposits with various banks, including HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. These investments are made with varying maturity dates and returns, with a total market value of approximately ₹2,440.64 crore as of the end of the quarter.
Confirmation of Adherence
The Crisil Ratings Limited report confirms that the deployment aligns with the originally intended purposes of the QIP, specifically towards capital expenditure aimed at increasing capacity and business expansion.
Source: BSE
