Diamond Power Infrastructure Raises ₹1,613.97 Crore Through QIP

On Tuesday, Indian equity benchmarks traded higher, with the Nifty 50 index rising 1.03 per cent to 24,231.75. Amid the broader market strength, shares of Diamond Power Infrastructure Limited traded at Rs 318.00, down 1.05 per cent from the previous close, even as the company disclosed the successful completion of its qualified institutions placement, raising Rs 1,613.97 crore from institutional investors.

QIP Completed at Rs 227 Per Share

Diamond Power Infrastructure Limited allotted 7,11,00,000 equity shares of face value of Rs 1 each at an issue price of Rs 227 per share, which includes a premium of Rs 226 per share. The issue price represented a discount of Rs 11.92, or 4.99 per cent, to the floor price as determined under the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations. The QIP opened on July 23, 2026, and closed on July 28, 2026. The allotment was approved by the Management Committee of the company at its meeting held on July 28, 2026.

Motilal Oswal and HDFC Funds Lead Institutional Participation

The placement attracted participation from a broad set of domestic Mutual Funds, foreign portfolio investors, and alternative investment funds. Motilal Oswal Mutual Fund schemes collectively received 1,76,21,145 shares, representing 24.78 per cent of the total issue — the single largest allocation in the QIP. The schemes participating included Motilal Oswal Dynamic Fund, Motilal Oswal Flexi Cap Fund, Motilal Oswal Focused Fund, Motilal Oswal Multi Cap Fund, and Motilal Oswal Special Opportunities Fund.

HDFC Mutual Fund schemes were allotted 1,32,15,859 shares, accounting for 18.59 per cent of the issue. The HDFC schemes receiving allotment included HDFC Large and Mid Cap Fund, HDFC Innovation Fund, HDFC Manufacturing Fund, HDFC Infrastructure Fund, HDFC Flexi Cap Fund, and HDFC Value Fund.

Smallcap World Fund, a foreign portfolio investor, received 72,32,200 shares, equivalent to 10.17 per cent of the total issue, the largest single-entity allocation in the placement. Goldman Sachs India Equity Portfolio, another foreign portfolio investor, was allotted 42,32,229 shares, representing 5.95 per cent of the issue.

HSBC Mutual Fund and Mirae Asset Mutual Fund schemes were each allotted 44,05,286 shares, representing 6.20 per cent apiece. VQ Fastercap Fund, an alternative investment fund, and Tata Mutual Fund schemes were each allotted approximately 39,64,757 shares, accounting for 5.58 per cent each of the total issue.

Share Capital Rises Post Allotment

Following the completion of the allotment, Diamond Power Infrastructure's paid-up equity share capital increased from Rs 52,69,71,060 consisting of 52,69,71,060 equity shares of face value of Rs 1 each to Rs 59,80,71,060 consisting of 59,80,71,060 equity shares. The company has stated that its revised pre- and post-issue shareholding pattern will be submitted to the exchanges along with the listing application, in the format specified under Regulation 31 of the SEBI Listing Regulations.

About Diamond Power Infrastructure Limited

Diamond Power Infrastructure Limited is an Ahmedabad-based company engaged in the manufacture of power cables and conductors, catering to the infrastructure and power transmission sectors. The company supplies to utilities, industrial clients, and government projects across India.

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Disclaimer: The article is for informational purposes only and not investment advice.