Diamond Power Infrastructure to raise funds, appoints new executives

Diamond Power Infrastructure Limited's board of directors approved raising funds up to ₹ 1,000 crores through a Qualified Institutions Placement (QIP) of eligible securities. This move aims to address the company's non-compliance with Minimum Public Shareholding (MPS) requirements and achieve full compliance. The fund-raising is subject to shareholder approval.

The board also approved the unaudited consolidated financial results for the quarter and half-year ended September 30, 2025, reporting a net profit of ₹ 2,772.78 lakh for the quarter. Additionally, new senior managerial personnel were appointed, including Umesh Chhaya as senior president, sales & marketing, and Pawan Lohiya as head of finance.

A corporate guarantee of ₹ 173 crores was approved for Bank of Maharashtra to secure a term loan facility for its wholly-owned subsidiary, DICABS Nextgen Special Alloys Private Limited. This guarantee includes ₹ 33 crore for a term loan, ₹ 30 crore for cash credit, and ₹ 110 crore for an inland letter of credit, constituting a contingent liability for the company.