Diamond Power Infrastructure Limited has scheduled a meeting of its equity shareholders on July 22, 2026, to seek approval for raising funds up to ₹2,000 crore through Qualified Institutions Placement (QIP). The meeting, convened via video conferencing, aims to secure shareholder consent to address the company's non-compliance with Minimum Public Shareholding (MPS) norms and strengthen its capital base. The resolution requires a special majority to be passed.

The board previously approved the enhancement of the fund-raising limit from ₹1,000 crore to ₹2,000 crore on June 18, 2026. This decision aligns with compliance requirements under Rule 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company cited a SEBI circular dated February 3, 2023, identifying QIP as a permissible method to achieve this compliance.

Postal Ballot and Voting Details

Shareholders can cast their votes through remote e-voting from July 19, 2026, to July 21, 2026. The remote e-voting period commences at 9:00 a.m. IST on July 19 and concludes at 5:00 p.m. IST on July 21. The results are expected to be announced on or before July 21, 2026. The cut-off date for determining eligible shareholders is July 15, 2026.

QIP Terms and Utilization

The proposed issuance involves fully paid-up equity shares of face value ₹1 each to Qualified Institutional Buyers (QIBs). The board is authorized to issue shares in one or more tranches within 365 days of the resolution's passing. The pricing will be determined based on the floor price formula under SEBI ICDR Regulations, potentially with a discount of up to 5%. A minimum of 10% of the issue size must be allotted to mutual funds. The proceeds are intended for investments in subsidiaries, capital expenditure, debt repayment, and working capital requirements.

Committee Reconstitution

Alongside the fund-raising approval, the board reconstituted key committees. The Corporate Social Responsibility committee was formed with Mr. Rakesh Shah as Chairperson. The Risk Management committee was reconstituted with Mr. Rabindra Nath Nayak as Chairperson. Additionally, a management committee comprising Mr. Rakesh Shah, Mr. Himanshu Shah, and Dr. Varsha Adhikari was established to delegate powers for the QIP issuance.

Monarch Infraparks Private Limited, a promoter of Diamond Power Infrastructure Limited, has declared that it and persons acting in concert have not created any encumbrance, directly or indirectly, during the financial year ended March 31, 2026, other than those already disclosed. The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited on April 01, 2026, pursuant to Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires promoters of target companies to make an annual declaration regarding encumbrances on shares.

The declaration was made on behalf of Monarch Infraparks Private Limited and seven other individuals identified as persons acting in concert. The confirmation ensures that no new charges or liens were established on the holdings of these entities during the specified financial year, providing transparency to shareholders regarding the promoter group's financial commitments related to their shareholding.

The disclosure covers the following promoters and persons acting in concert:

The letter was signed by Himanshu Shah, Director of Monarch Infraparks Private Limited, and submitted to the exchanges along with the PAN details of the promoters. The company requested the exchanges to acknowledge the receipt of this statutory disclosure.