Postal ballot seeks nod for Rs 2000 crore QIP raise
DIACABS · price
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Diamond Power Infrastructure issued a postal ballot notice to raise up to Rs 2,000 crore via Qualified Institutions Placement of equity shares. This doubles the earlier Rs 1,000 crore QIP limit. Shares may be priced at a discount up to 5 percent on the floor price. The firm recently completed insolvency resolution and must meet minimum public shareholding norms. Proceeds will fund investments, capex, debt repayment and working capital. E-voting from June 20 to July 19, 2026.
Shareholders will vote on potential equity dilution via QIP. A successful QIP may weigh on the stock short term but helps meet public shareholding norms.