Hitachi Energy India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Hitachi Energy India Limited has confirmed that there is no deviation or variation in the use of proceeds raised through its Qualified Institutional Placement (QIP) conducted on March 13, 2025. The company raised gross proceeds of Rs. 2,520.82 crore and net proceeds of Rs. 2,476.29 crore. The net proceeds are allocated toward capital expenditure (Rs. 1,513.28 crore), working capital requirements (Rs. 350 crore), and general corporate purposes (Rs. 613.01 crore). The statement was reviewed by the Audit Committee on May 14, 2025, and Crisil Ratings Limited is acting as the monitoring agency.
This is a routine compliance filing confirming that the QIP funds are being used as originally intended, which is a positive signal for shareholders as it reflects disciplined capital deployment. No material impact on stock price is expected from this disclosure alone.