Diamond Power seeks shareholder approval for up to INR 1,000 crore QIP

Diamond Power Infrastructure Limited announced a postal ballot notice dated November 10, 2025, to secure shareholder approval for raising funds through the issuance of equity shares via a Qualified Institutions Placement (QIP). The company aims to raise an aggregate amount not exceeding INR 1,000 crore in one or more tranches. Allotment will be made to Qualified Institutional Buyers (QIBs), with a minimum of 10% reserved for mutual fund(s).

The remote e-voting period for this resolution will commence on Tuesday, November 18, 2025, at 9:00 a.m. IST, and conclude on Wednesday, December 17, 2025, at 5:00 p.m. IST. The results of the postal ballot are scheduled to be announced on or before Friday, December 19, 2025. The funds raised are intended for various corporate purposes, including investments in subsidiaries, joint ventures, or associates, pre-payment/repayment of debts, and working capital needs.

The equity shares issued under the QIP will have a face value of INR 1 each, will be fully paid-up, and rank pari-passu with existing equity shares. The company is authorized to offer these shares at a discount of not more than 5% on the floor price, or as otherwise permitted by applicable laws. The allotment must be completed within 365 days from the passing of the special resolution.