Diamond Power raises Rs 1,614 crore through institutional placement
Diamond Power Infrastructure Limited (DIACABS) has raised Rs 1,613.97 crore through a Qualified Institutional Placement (QIP), issuing 7,11,00,000 equity shares to domestic and international institutional investors.
The QIP opened on July 23, 2026, and closed on July 28, 2026. Shares with a face value of Rs 1 each were allotted at Rs 227 per share, including a premium of Rs 226. The issue price represents a discount of Rs 11.92, or 4.99%, to the floor price of Rs 238.92 per share, as permitted under the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements (ICDR) Regulations.
Following the allotment, DIACABS’ paid-up equity share capital increased from Rs 52.70 crore, comprising 52,69,71,060 shares, to Rs 59.81 crore, comprising 59,80,71,060 shares.
Key investors
Motilal Oswal Dynamic Fund and affiliates, comprising five funds, received the largest allocation with 1,76,21,145 shares, representing 24.78% of the issue. HDFC Mutual Fund and affiliates across six funds were allotted 1,32,15,859 shares, accounting for 18.59%.
Smallcap World Fund, INC, a Foreign Portfolio Investor (FPI), received 72,32,200 shares, equivalent to 10.17% of the issue. HSBC Mutual Fund and Mirae Asset, each represented through multiple funds, were allotted 44,05,286 shares each, accounting for 6.20% each.
Goldman Sachs Funds – India Equity Portfolio, an FPI, received 42,32,229 shares, representing 5.95% of the issue. VQ Fastercap Fund, an Alternative Investment Fund (AIF), was allotted 39,64,758 shares, or 5.58%, while Tata Mutual Fund and affiliates across seven funds received 39,64,757 shares, also representing 5.58%.
Management view
Commenting on the fundraise, the company stated: “DIACABS has successfully raised Rs 1,614 Crore through a Qualified Institutional Placement (QIP)—a strong vote of confidence from leading institutional investors in our vision, our people, and our future.”
The company also acknowledged its customers, partners, dealers, vendors, employees and shareholders, adding: “Every relationship we’ve built has contributed to this milestone. With renewed strength, we remain committed to investing in innovation, expanding our capabilities, and powering India’s infrastructure growth.”
Following the QIP, the company’s paid-up equity share capital increased from Rs 52,69,71,060 to Rs 59,80,71,060. DIACABS will submit its pre- and post-issue shareholding pattern along with the listing application in the format prescribed under Regulation 31 of the SEBI Listing Regulations.
The featured photograph is for representation only.
