Multibagger stock: Diamond Power and Infrastructure successfully concluded its Qualified Institutional Placement (QIP), raising ₹1,613.97 crore by allotting 7.11 crore equity shares to institutional investors on Tuesday.
Diamond Power and Infrastructure share price turned green after falling over 2% during the intraday session on Wednesday.
The company completed the QIP on July 28, 2026, allotting shares at an issue price of ₹227 each, comprising a face value of ₹1 and a premium of ₹226 per share.
The issue was priced at a 4.99% discount to the SEBI-determined floor price of ₹238.92 per share, with a face value of ₹1 each.
According to the exchange filing, Motilal Oswal, HDFC Mutual Fund, Goldman Sachs Funds, and Mirrae Asset are among the allottees.
The funds raised through the QIP will mainly be utilised to repay or prepay select outstanding borrowings from both promoter and non-promoter entities, thereby improving the company's balance sheet.
A QIP is a capital-raising route through which listed companies issue shares to qualified institutional buyers, enabling them to raise funds without going through the time-consuming public issue process.
Earlier this month, the company secured a letter of award (LOA) from Adani Energy Solutions Limited for the supply of AL59 Moose and AL59 Zebra conductors.
Diamond Power Infrastructure is a Vadodara, Gujarat-based company engaged in the manufacturing of power transmission and distribution equipment in India.
Diamond Power Infrastructure share price trend
Diamond Power Infrastructure share price trend has remained largely positive in the near-term despite weak market sentiments. The multibagger stock has delivered 18% returns in a week and 52% returns in a month.
Furthermore, Diamond Power Infrastructure shares have given multibagger gains of 130% on year-to-date (YTD) basis and over 93% gains in a year.
Looking at the broader level, the stock has more than quadrupled investor's money by delivering 1,67,873% returns in three years and 3,18,900% on BSE.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
