Hitachi Energy India Limited has released its utilization statement regarding funds raised through its Qualified Institutional Placement (QIP). As of the quarter ended March 31, 2026, the company confirms there has been no deviation or variation in the use of the Rs. 2,476.29 crore net proceeds, which are being strategically deployed for capital expenditure, working capital, and general corporate purposes.
Utilization of Funds
The company successfully raised a total of Rs. 2,520.82 crore in gross proceeds (Rs. 2,476.29 crore net) through its QIP, which concluded on March 13, 2025. During the quarter ending March 31, 2026, the company utilized Rs. 469.66 crore, specifically allocated toward capital expenditure requirements.
Strategic Allocation Breakdown
The funds are being directed toward several core business needs to support long-term growth:
- Capital Expenditure: The primary utilization, amounting to Rs. 469.66 crore, is dedicated to expanding capacity, adding essential equipment, and completing civil works for the company’s business units.
- Working Capital: A total allocation of Rs. 350.00 crore is set aside for operational working capital requirements. No portion of these funds was utilized during the reported quarter.
- General Corporate Purposes: An amount of Rs. 613.01 crore is earmarked for general corporate needs, with no utilization recorded during the January-March 2026 period.
Confirmation of Compliance
The company has maintained strict adherence to the objects outlined in the initial placement document. The Audit Committee reviewed the deployment of these funds on May 11, 2026, confirming that all activities remain aligned with the company’s original expansion and growth strategy.
Source: BSE
