Diamond Power and Infrastructure has completed a Qualified Institutional Placement (QIP) raising ₹1,613.97 crore ($192 million) by issuing 7.11 crore equity shares to institutional investors.
The capital raise, concluded on Tuesday, attracted participation from major financial institutions including Goldman Sachs and Motilal Oswal, signaling renewed confidence in the company’s growth trajectory despite its already substantial market valuation.
Diamond Power has surged approximately 318,900% over the past five years, making it one of the most notable multibagger stocks in the Indian market.
The share price turned green during Wednesday’s trading session, recovering from an earlier intraday decline of over 2%.
The market’s positive reaction to the QIP completion suggests that investors view the institutional backing as a stabilizing factor, particularly given the stock’s historic performance.
Diamond Power has surged approximately 318,900% over the past five years, making it one of the most notable multibagger stocks in the Indian market.
This capital raise aligns with a broader trend of institutional capital flowing into a select group of Indian equities.