Multibagger Stock Alert! 100% Return in 1 Yr, Diamond Power Raises Rs 1,613.97 Cr Through QIP

Diamond Power QIP

Participated by marquee investors like Motilal Oswal, HDFC Mutual Fund, Goldman Sachs and Mirrae Asset, etc, Diamond Power's qualified institutional placement (QIP) concluded on Tuesday. The company allotted shares at an issue price of Rs 227 each, as it comprises a face value of Re 1 and a premium of Rs 226 per share.

The issue price was fixed at a 4.99% discount to the floor price of Rs 238.92 per share. The management "approved and declared the closure of Issue today, i.e. July 28, 2026, pursuant to the receipt of application forms for an aggregate of 7,11,00,000 fully paid-up Equity Shares of face value of ₹ 1 each of the Company and the funds in the escrow account from eligible qualified institutional buyers in accordance with the terms of the Issue."

QIP Key Objectives

The raised funds through QIP will be used for debt repayment or to prepay the select outstanding borrowings from both promoter and non-promoter entities. All in all, the QIP fundraise would aid the company in improving its balance sheet.

What is QIP?

QIP is a fast-track fundraising tool that lets listed companies to issue shares to qualified institutional buyers. The QIP method enables companies to raise funds without going through the time-consuming public issue process.

Diamond Power Share Price Trend

The stock ended higher on Wednesday. It touched its 52-week high mark of Rs 337.05 per share on BSE on July 29, 2025. The stock dipped to its 52-week low mark of Rs 115.80 per share on February 2, 2026. It has a return on equity (ROE) of -15.99. The stock has delivered 144% return in 2026 so far and around 100% return in one year.

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