Key Quantitative Figures

  • Total Amount Raised in IPO: ₹858.696 Crore (Date of Allotment: February 20, 2025).
  • Total Amount Allocated for Objects in this Report: ₹225.01 Crore.
  • Total Amount Utilised against these Objects: ₹219.9 Crore.

Detailed Breakdown of Fund Utilisation

| Object of Fund Utilisation | Original Allocation (₹ Crore) | Funds Utilised (₹ Crore) | Deviation/Variation (₹ Crore) | Remarks |

| Payment for acquisition of Mehru Electrical and Mechanical Engineers Private Limited | 117 | 117 | Nil | - |

| Capital Expenditure | 27.22 | 22.23 | Nil | Deployment delayed vs. prospectus timeline. A board resolution dated October 31, 2026, states the unutilised portion will be fully utilised within the next two quarters. |

| Issue-related Expenses | 19.61 | 22.94 | Nil | - |

| Funding inorganic growth and General Corporate Purposes | 61.18 | 57.73 | Nil | Deployment delayed vs. prospectus timeline. A board resolution dated October 31, 2026, states the unutilised portion will be fully utilised within the next two quarters. |

| Total | 225.01 | 219.9 | Nil | |

Dates of Action

  • Date of Allotment (IPO): February 20, 2025.
  • Reporting Quarter Ended: September 30, 2026.
  • Board Resolution Date (for delayed utilisation): October 31, 2026.
  • Filing Date: November 07, 2026.

Parties Involved

  • Listed Entity: Quality Power Electrical Equipments Limited (Scrip Code: QPOWER (NSE), 544367 (BSE); ISIN: INE0SII01026).
  • Monitoring Agency: Brickwork Ratings India Private Limited.

Review and Confirmation

  • The Statement of Deviation was reviewed by the company's Audit Committee.
  • The Audit Committee noted that there was no deviation/variation in the utilisation of funds raised through the IPO.
  • The company confirms there was no deviation or variation in the use of proceeds for the quarter.

Financial & Operational Impact

  • Confirmed Impact: No deviation from stated objects or amounts for the quarter.
  • Forward-Looking Statement: The board has resolved to fully utilise the remaining funds (from the Capex and Growth/GP objects) within the next two quarters from October 31, 2026.

Capital Structure Impact

No impact on capital structure reported in this filing.

Cash Flow Implications

No specific cash flow implications are disclosed beyond the reported utilisation figures.

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