POWERINDIA · price
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Awaiting price reaction for this filing.
Hitachi Energy India filed a Monitoring Agency Report from Crisil Ratings covering its Qualified Institutional Placement (QIP) conducted from March 10–13, 2025. The QIP raised Rs 2,520.82 crore gross and Rs 2,476.29 crore net. The company had not yet utilized any of the proceeds during the quarter, with the full Rs 2,476.29 crore parked in fixed deposits across HSBC, Deutsche Bank, Kotak Mahindra, HDFC Bank, and Axis Bank, earning Rs 6.60 crore in interest at rates of 6.15%–7.50%. The stated objects are capital expenditure for business unit expansion (Rs 1,513.28 crore), working capital (Rs 350 crore), and general corporate purposes (Rs 613.01 crore). The monitoring agency reported no deviation from the disclosed objects.
For shareholders, this confirms the QIP funds are safely parked in bank FDs and remain fully available for the stated capex, working capital, and corporate purposes as planned. No deviation from the stated use of funds is a neutral-to-positive compliance signal, with actual deployment expected in coming quarters as the capex program kicks off.