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 taken a significant step in restructuring its promoter group. The company has formally applied to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for a no-objection to declassify two entities from its promoter group category.

Entities Involved

The two entities under consideration for declassification are:

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

Current Shareholding Status

It's noteworthy that both entities currently hold no shares in CG Power & Industrial Solutions. This is clearly illustrated in the following table:

Regulatory Compliance

The company's move aligns with its earlier disclosures regarding the re-classification of these promoter group members. This declassification request is being made in accordance with Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Regulations.

Timeline of Events

According to the LODR data:

• CG Power made initial disclosures regarding the re-classification of these entities.
• The company formally applied to the stock exchanges for their no-objection to the declassification.

Implications

This corporate action, if approved, would result in the removal of Yantra Coromandel Agrisolutions Private Limited and Coromandel Engineering Company Limited from CG Power's promoter group. 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.

The stock exchanges will review the application, and their decision will be crucial for the completion of this corporate restructuring process. Investors and stakeholders of CG Power & Industrial Solutions should keep an eye out for further updates on this matter.