Hitachi Energy India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
POWERINDIA · price
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Awaiting price reaction for this filing.
Hitachi Energy India has filed a quarterly compliance statement under SEBI Regulation 32(3) confirming there has been no deviation or variation in the use of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended September 30, 2025. The company raised Rs. 2,520.82 Crores (gross) / Rs. 2,476.29 Crores (net) through the QIP on March 13, 2025. During the quarter, only Rs. 50.33 Crores was utilized, all of it towards capital expenditure for expanding business units (capacity increase, equipment addition, and civil works). No funds were deployed towards working capital (Rs. 350 Cr allocation) or general corporate purposes (Rs. 613.01 Cr allocation) during the quarter. Crisil Ratings Limited is the appointed monitoring agency overseeing fund usage.
Positive for governance and transparency as the company confirms funds are being used strictly as originally intended. However, the slow utilization pace (only about 2% of net proceeds deployed so far) may raise investor questions about the deployment timeline and when returns on these investments will start showing up in earnings.