Diamond Power Infrastructure Ltd has successfully completed its Qualified Institutional Placement (QIP), raising Rs 1,613.97 crore through the allotment of 7.11 crore equity shares.
A QIP is a fundraising mechanism that allows listed companies to raise capital by issuing shares to qualified institutional investors without undergoing a lengthy public offering process.
The company closed the QIP on July 28, 2026, issuing shares at Rs 227 apiece, including a premium of Rs 226 per share.
The issue price represents a 4.99% discount to the SEBI-approved floor price of Rs 238.92 per share.
The proceeds from the fundraise will primarily be used to repay or prepay certain outstanding borrowings from both promoter and non-promoter groups, strengthening the company's balance sheet.
The equity shares allotted under the QIP carry a face value of ₹1 each.
Earlier this month, the company received a contract confirmation / letter of award (LOA) from Adani Energy Solutions Limited for the supply of AL59 Moose and AL59 Zebra conductors.
Diamond Power Infrastructure Ltd is an Indian manufacturer of power transmission and distribution equipment, headquartered in Vadodara, Gujarat.
Founded in 1970, the company produces power cables, conductors and transmission towers, and also undertakes EPC projects for power infrastructure.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.