CG Power and Industrial Solutions Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from its Qualified Institutions Placement (QIP) issue. The report, issued by CARE Ratings Limited, addresses a minor inadvertent error in the previous submission where the amount under "General Corporate Purposes" was stated as ₹724.17 crore instead of the correct ₹724.14 crore. The revised report confirms that the QIP proceeds, aggregating to ₹3000 crore, have been utilized appropriately for the objectives outlined in the offer document. During the quarter, the company utilized ₹184.67 crore for investment in its subsidiary, CG Semi Private Limited, for setting up an OSAT facility, and ₹63.44 crore for capital expenditure, including a power transformer plant and land development. Additionally, ₹0.23 crore was utilized for TDS under general corporate purposes. The total unutilized amount from the QIP stands at ₹2725.63 crore, which has been deployed in various fixed deposits and a mutual fund, earning a return of approximately 6.5% to 6.6%. The report also confirms no deviation from the stated objects and no delay in the implementation of the projects, with completion expected by Fiscal 2029.
