According to The Hindu BusinessLine, Diamond Power Infrastructure has successfully completed its ₹1,614 crore qualified institutional placement (QIP) by allotting 7.11 crore equity shares on July 28, 2026. The company issued shares at ₹227 per share, including a premium of ₹226 per share, representing a 4.99% discount to the SEBI-approved floor price of ₹238.92 per share. The issue opened on July 23 and closed on July 28, 2026, with the equity shares carrying a face value of ₹1 each and being allotted to qualified institutional investors. The paid-up equity share capital increased from ₹52.70 crore to ₹59.81 crore, expanding the overall equity base from 52.70 crore equity shares of ₹1 each to 59.81 crore equity shares.
As reported by Investing.com, Diamond Power has secured significant new orders that validate its positioning at the intersection of India's data-centre build-out and power transmission expansion themes. On July 5, 2026, the company received a ₹435.71 crore supply order for HT and LT power cables covering more than 2,100 km of cable runs for the 310 MW Hyderabad data-centre campus projects (HYD22–HYD26), to be executed by L&T, Sterling and Wilson, and Blue Star, with deliveries beginning in August 2026. Less than two weeks later, on July 16, 2026, the company received a letter of award from Adani Energy Solutions worth ₹185.16 crore for the supply of AL59 Moose and AL59 Zebra conductors totalling more than 4,800 km, covering the Tuticorin and Pune-III transmission projects with deliveries running through February 2027.
According to The Hindu BusinessLine, the proceeds from the ₹1,614 crore QIP will primarily be used to repay or prepay certain outstanding borrowings from both promoter and non-promoter groups, strengthening the company's balance sheet. This strategic debt reduction initiative aims to improve the company's financial position and reduce its overall borrowing costs, providing a stronger foundation for future growth initiatives.
As reported by The Hindu BusinessLine, the QIP attracted leading institutional investors including FII Capital International, HDFC Mutual Fund, Motilal Oswal MF, HSBC MF, Goldman Sachs, and Mirae Asset. The bankers for the issue were Monarch Networth Capital and IDBI Capital. According to Investing.com, shareholders approved the capital raise on July 19, 2026 with 99.9995% of votes in favour, representing 76.78% of total outstanding shares. The stock has delivered exceptional performance, surging 60% since InvestingPro's AI strategy flagged the stock on June 1, 2026, when shares traded near ₹198. The stock touched a fresh 52-week high of ₹309.90 on Monday, July 27, 2026, and was last changing hands at ₹308.76, up 4.61% in intraday trade. The company's confidence in its growth outlook has been emboldened by the string of large order wins that validate its positioning at the intersection of two of India's most capital-intensive growth themes.
