CG Power Q3FY26 Monitoring Report: ₹3000 Cr QIP Proceeds Utilized as per Plan
CG Power's Q3FY26 Monitoring Agency Report confirms proper utilization of ₹3000 crore QIP proceeds. ₹274.37 crore utilized by December 31, 2025. Funds allocated to subsidiary CG Semi for OSAT facility, power transformer plant, and land development. Unutilized proceeds of ₹2725.63 crore are invested in fixed deposits and mutual funds.
This report is a routine compliance filing related to the utilization of QIP funds. While it confirms adherence to the plan, it does not introduce new material information that would significantly alter the company's valuation or future prospects beyond what was already known from the QIP announcement itself.
The report indicates that the company is utilizing the QIP proceeds as per the stated objectives, with no deviations, which is a positive sign for investors and stakeholders.
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). The report, issued by CARE Ratings Limited, confirms that the utilization of the ₹3000 crore raised through the QIP has been in line with the objects disclosed in the offer document, with no deviations noted.
During the quarter (Q3FY26), the company utilized ₹95.25 crore, bringing the total utilization to ₹274.37 crore as of December 31, 2025. A significant portion of the funds, ₹184.67 crore, has been allocated to the investment in its subsidiary, CG Semi Private Limited, for setting up an Outsourced Semiconductor Assembly and Test (OSAT) facility. Additionally, ₹63.44 crore has been used for capital expenditure requirements, including the setup of a power transformer plant and development of leasehold land. The company also incurred ₹0.03 crore for Tax Deducted at Source (TDS) under general corporate purposes. The remaining unutilized amount stands at ₹2725.63 crore.
The unutilized proceeds are primarily invested in fixed deposits with various banks (SBI, HDFC Bank, Axis Bank) maturing between 2027 and 2030, as well as in SBI Liquid Fund. These investments are earning returns ranging from 6.35% to 6.6% for fixed deposits and an estimated 7.84% for the mutual fund. The total market value of these investments as of December 30, 2025, was ₹2811.41 crore.
All objects, including investment in the subsidiary, capital expenditure, acquisitions, and general corporate purposes, are on track for completion by Fiscal 2029, with no delays reported. The QIP issue expenses have been completed.
What to do with a filing like this
CG Power and Industrial Solutions Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CG Power and Industrial Solutions Limited. Read the original for the full detail.