CG Power & Industrial Solutions has reported proper utilization of proceeds from its Rs 3,000 crore Qualified Institutional Placement (QIP), according to the monitoring agency report for the quarter ended September 30, 2025. CARE Ratings Limited, serving as the monitoring agency, confirmed no deviations from the stated objectives.

QIP Details and Fund Utilization

The QIP was conducted from June 30 to July 3, 2025. As of the end of the quarter, Rs 179.12 crore has been utilized, with Rs 2,820.88 crore remaining unutilized. The company has deployed the unutilized funds in fixed deposits and mutual funds across various banks, including State Bank of India, HDFC Bank, and Axis Bank.

Allocation of Funds

The major allocations of the QIP proceeds are as follows:

Progress and Implementation

The company reported that all statutory approvals related to the objectives have been obtained. The monitoring agency confirmed appropriate utilization as per the offer document. The implementation of various objectives is ongoing, with no delays reported as of now. CG Power aims to complete the utilization of funds by Fiscal 2029.

Investment of Unutilized Funds

CG Power has invested the unutilized funds primarily in fixed deposits with SBI, HDFC Bank, and Axis Bank, as well as in mutual funds. The fixed deposits have maturity dates ranging from 2027 to 2030, with interest rates between 6.35% and 6.60%.

Conclusion

The monitoring agency report indicates that CG Power & Industrial Solutions is proceeding as planned with the utilization of its QIP proceeds. The company's strategic investments in its subsidiary for semiconductor assembly, capital expenditure for power transformer plants, and provisions for acquisitions showcase its focus on growth and expansion in the power and industrial solutions sector.

Investors can take confidence in the proper management and deployment of funds, as verified by the independent monitoring agency. As the company continues to implement its plans, stakeholders will be keen to observe the impact of these investments on CG Power's future performance and market position.

CG Power & Industrial Solutions , a prominent player in the power and industrial equipment sector, has received approval from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the reclassification of two entities from its promoter group category.

Approved Reclassification

The stock exchanges have granted no-objection for the reclassification of:

1. Coromandel Engineering Company Limited
2. Yanmar Coromandel Agrisolutions Private Limited

Timeline and Process

• CG Power applied for the reclassification on November 2
• Approval was granted by NSE and BSE on December 5

Implications

This approval effectively removes Coromandel Engineering Company Limited and Yanmar Coromandel Agrisolutions Private Limited from CG Power's promoter group structure. Such changes in promoter group composition can be significant for investors and market watchers, as they may reflect shifts in the company's ownership structure and control.

Regulatory Compliance

The reclassification process aligns with the Securities and Exchange Board of India (SEBI) Listing Regulations, specifically Regulation 31A, which governs the reclassification of promoter group entities.

Current Shareholding Status

It's worth noting that prior to this reclassification, both entities held no shares in CG Power & Industrial Solutions, as illustrated in the following table:

This corporate action marks a significant step in CG Power's ongoing efforts to restructure its promoter group. Investors and stakeholders should take note of this development as it may have implications for the company's governance and ownership structure going forward.