Diamond Power to Raise Up to ₹2000 Cr via QIP

Diamond Power Infrastructure Ltd's Board of Directors has approved a proposal to raise up to ₹2,000 Crores through a Qualified Institutions Placement (QIP). This move aims to enhance the company's capital base and address its non-compliance with Minimum Public Shareholding (MPS) requirements. The board also reconstituted the Corporate Social Responsibility and Risk Management committees, and a management committee for the QIP issuance. Shareholder approval will be sought for the fund-raising plan.