Mumbai, March 26 -- Crisil Ratings said that it has taken note of the Rs 2,520.82 crore equity raised by Hitachi Energy India through qualified institutional placement (QIP), which concluded on 13 March 2025.

The raised funds will be utilised mainly towards capital expenditure (capex) of Rs 2,000 crore announced by the company in October 2024 for expanding its capacity and product portfolio across the large and small power transformers, dry and traction, high-voltage direct current (HVDC) and components and network control solutions offering; this is expected to be taken over the next 4-5 years.

Of the QIP proceeds, the funds utilized for capex would be Rs 1513.28 crore, Rs 350 crore will be utilised towards working capital requirement ...