CG Power and Industrial Solutions Limited has submitted a statement confirming no deviation or variation in the utilization of funds raised through its Qualified Institutions Placement (QIP). The statement, covering the quarter ended December 31, 2025, was reviewed by the Audit Committee in their meeting held on January 27, 2026. The company raised ₹3,000 Crores through QIP on July 4, 2025. After adjusting for issue-related expenses of ₹26.03 Crores, the net proceeds available for utilization amounted to ₹2,973.97 Crores. For the quarter ended December 31, 2025, the utilization of funds was as follows: ₹184.67 Crores towards capital expenditure for an OSAT facility by its subsidiary CG Semi Private Limited; ₹255.20 Crores for funding capital expenditure and strategic initiatives of the company, including a power transformer plant and development of leasehold land; and ₹0.23 Crores for general corporate purposes. The amount utilized for acquisitions and inorganic growth opportunities was ₹0.00 Crores. The total funds utilized during the quarter were ₹274.37 Crores. The statement confirms that there were no deviations from the original objects or allocations, and the Audit Committee and auditors reported no comments on the utilization.
