Diamond Power Infrastructure Limited has successfully secured shareholder approval for its proposed fundraising initiative, with the postal ballot results announced on December 18, 2025. The company received overwhelming support from shareholders to raise up to Rs 1,000 crore through a Qualified Institutions Placement (QIP).

Postal Ballot Results Overview

The voting results demonstrate strong shareholder confidence in the company's fundraising plans:

Shareholder Participation Analysis

The postal ballot saw significant participation across different shareholder categories:

QIP Details and Fund Utilization

The approved QIP will enable the company to raise up to Rs 1,000 crore for strategic purposes:

Voting Process Timeline

The postal ballot process was conducted efficiently with proper regulatory compliance:

Regulatory Compliance and Process

The company ensured full regulatory compliance throughout the postal ballot process. Mr. Ashish Shah, Partner at Ashish Shah & Associates and Practicing Company Secretary, served as the Scrutinizer for the voting process. KFin Technologies Limited provided the e-voting platform, facilitating remote voting for eligible shareholders.

The postal ballot notice was dispatched via email to all shareholders and published in Business Standard (English) and Loksatta (Gujarati) newspapers. The company also uploaded relevant documents on its website and stock exchange platforms for transparency.

Market Implications

The unanimous approval from participating shareholders reflects strong confidence in Diamond Power Infrastructure's growth strategy. With 54,057 total shareholders on record, the successful passage of this special resolution provides the company with significant financial flexibility to pursue expansion opportunities and strengthen its balance sheet through debt reduction.

The QIP approval positions Diamond Power Infrastructure to capitalize on growth opportunities in the power infrastructure sector while maintaining financial stability through strategic debt management.

Diamond Power Infrastructure has secured a significant contract through a letter of intent from Bondada Engineering Limited for the supply of power cables. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Contract Overview

The intent letter outlines specific parameters for the power cable supply arrangement:

Project Timeline and Execution

The contract execution timeline provides a clear delivery schedule:

Regulatory Compliance

The company has confirmed that this contract does not fall within the ambit of related party transactions. Diamond Power Infrastructure's promoters, promoter group, or group companies have no interest in Bondada Engineering Limited, ensuring the transaction maintains arm's length principles.

Business Impact

This contract award reinforces Diamond Power Infrastructure's position in the power cable manufacturing sector and demonstrates its capability to secure substantial orders from EPC contractors. The ₹55.54 crore value represents a meaningful addition to the company's order book, with execution planned for the first half of 2026. The contract structure based on per kilometer rates with PV formulae provides flexibility in pricing adjustments.