Diamond Power Infrastructure Limited has informed the Exchange about Notice of Intimation about Offer for Sale by Promoters of the Company
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On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 1.9 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The promoters of Diamond Power Infrastructure — Monarch Infraparks Private Limited and GSEC Limited — are selling up to 2.1 crore equity shares (3.99% of paid-up capital) through an OFS on BSE and NSE at a floor price of Rs. 95 per share. Each promoter is offering an equal 1.05 crore shares (1.99% each). The OFS opens on Thursday, June 5, 2025 for non-retail investors and continues on Friday, June 6, 2025 for retail investors, with 10% reserved for retail and 25% for mutual funds and insurance companies. An oversubscription option allows the promoters to sell up to an additional 1.05 crore shares, taking the total potential sale to about 5.98% of equity capital. The purpose of the OFS is to help the company meet the minimum public shareholding requirement mandated under SEBI and SCRR rules. Innovate Securities is the seller's broker for the transaction.
The OFS increases the float of shares in the market, which may put short-term pressure on the stock price as supply rises. The Rs. 95 floor price acts as a reference level; bidding below this will be rejected. The sale is driven by regulatory compliance to meet minimum public shareholding norms rather than promoter sentiment on the stock's valuation.