Power Mech Projects Limited — Others, 11-02-2025: Utilisation of Funds

Power Mech Projects Limited has reported on the utilization of funds from its Qualified Institutions Placement (QIP) raised on October 23, 2023, amounting to ₹343.40 Crores (net proceeds) for the quarter ended December 31, 2024. The report confirms that there have been no deviations in the use of funds. Key allocations included ₹240 Cr for capital expenditure on the Tasra opencast project, ₹20 Cr for loan repayment to Bank of Bahrain and Kuwait, and ₹83.40 Cr for general corporate purposes, with all amounts utilized as planned.