Diamond Power Raises ₹1,613.97 Crore Through QIP, Allots 7.11 Crore Shares At ₹227 Each

Mumbai: Diamond Power Infrastructure Limited has raised Rs 1,613.97 crore through a qualified institutions placement (QIP), according to an exchange filing dated July 28, 2026.

The company’s Management Committee approved the allotment of 7.11 crore equity shares to eligible qualified institutional buyers. The shares were allotted at an issue price of Rs 227 each.

Issue Details

Each allotted share has a face value of Rs 1, while the issue price includes a premium of Rs 226 per share.

The issue price represents a discount of Rs 11.92, or 4.99 percent, to the floor price calculated under the Securities and Exchange Board of India’s regulations.

The QIP opened on July 23 and closed on July 28. The fundraising was carried out under applicable provisions of the Companies Act and SEBI’s Issue of Capital and Disclosure Requirements Regulations.

Following the allotment, Diamond Power’s paid-up equity share capital increased to Rs 59.81 crore from Rs 52.70 crore.

The company’s total number of outstanding equity shares consequently rose to 59.81 crore from 52.70 crore. Diamond Power said it would submit the revised shareholding pattern along with its listing application.

Major Investors

Motilal Oswal Mutual Fund received the largest clubbed allocation among investors holding over 5 percent of the issue. Its different schemes were allotted a combined 1.76 crore shares, representing 24.78 percent of the QIP.

HDFC Mutual Fund’s schemes together received 1.32 crore shares, accounting for 18.59 percent of the total issue.

Smallcap World Fund was allotted 72.32 lakh shares, representing a 10.17 percent share in the placement.

HSBC Mutual Fund and Mirae Asset Mutual Fund were each allotted 44.05 lakh shares on a clubbed basis, representing 6.20 percent of the issue apiece.

Goldman Sachs India Equity Portfolio received 42.32 lakh shares, or 5.95 percent of the issue. VQ Fastercap Fund and Tata Mutual Fund were each allotted nearly 39.65 lakh shares, accounting for 5.58 percent apiece.

The allotment gives Diamond Power fresh capital from domestic mutual funds, foreign portfolio investors and an alternative investment fund.

Published on: Wednesday, July 29, 2026, 12:20 PM IST