Multibagger Diamond Power Infrastructure shares gain 3% as board approves ₹2,000 crore QIP

Diamond Power Infrastructure's board approved raising up to Rs 2,000 crore through a Qualified Institutional Placement (QIP), doubling the earlier approved limit of Rs 1,000 crore. The company is currently non-compliant with minimum public shareholding norms and plans to use the QIP route to achieve compliance at the earliest. Shares rose 3 to 4 percent to around Rs 210 intraday, supported by recent order wins from Adani Power (Rs 45 crore) and Adani Electricity Mumbai (Rs 100.54 crore), with a total order book of over Rs 3,500 crore as of March 30, 2026.