Hitachi Energy India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
POWERINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hitachi Energy India has filed a compliance statement confirming that there has been no deviation or variation in the use of funds raised through its Qualified Institutional Placement (QIP) in March 2025. The company raised Rs. 2,520.82 crore gross (Rs. 2,476.29 crore net) via the QIP. Out of this, Rs. 1,513.28 crore was earmarked for capital expenditure, Rs. 350 crore for working capital, and Rs. 613.01 crore for general corporate purposes. During the April–June 2025 quarter, only Rs. 24.58 crore was utilised, all towards capex, while the working capital and general corporate purpose allocations remained untouched. Crisil Ratings is acting as the monitoring agency and the Audit Committee has reviewed and confirmed the statement.
This is a routine compliance filing with no negative news — the company is sticking to its stated QIP use plan. However, shareholders may note the very low utilisation of proceeds (just ~1% this quarter), suggesting capex deployment is still in early stages, which could affect near-term revenue visibility from the QIP-funded expansion.