Mumbai: Adani Group is planning to buy a stake in Diamond Power Infrastructure Ltd (DPIL), as per The Economic Times report. DPIL is a power infrastructure company based in Ahmedabad. It makes and installs cables, conductors, and transmission towers. It also handles complete transmission line projects.
DPIL was taken over in 2022 by a group that includes GSEC Ltd and businessman Rakesh Shah. This was done through the National Company Law Tribunal (NCLT) process. The company is listed on the Bombay Stock Exchange (BSE) and has a market value of around Rs 5,000 crore.
The current promoters of DPIL own 90 per cent of the company. But as per SEBI rules, they must reduce this to 75 per cent. To do this, they are looking to sell some shares. According to The Economic Times, DPIL is in talks with three possible buyers. Adani Group is leading the race among them. A final deal is expected within the next 60 days.
If Adani Group gets the stake, it will likely keep the current management team. This is something Adani has done before. For example, in 2023, it bought 30.07 per cent of PSP Projects Ltd for Rs 685 crore and allowed the same management to continue. In another similar move, Adani’s Renew Exim DMCC bought a large stake in ITD Cementation India last year. That company works in EPC and civil infrastructure, both in India and abroad.
This move is part of Adani Group’s bigger plan to spend more on infrastructure. The group will increase its capital expenditure for the year to between Rs 1.4 trillion and Rs 1.45 trillion. This is up from Rs 1.26 trillion in the previous year.
DPIL is also planning to grow. It hopes the money from the stake sale will help it expand. A source told The Economic Times that DPIL is aiming to earn Rs 10,000 crore in revenue over the next three years. For comparison, the company earned Rs 343 crore in FY25.
In a related development, Adani Group also promised to invest Rs 50,000 crore in the Northeast region of India. This was announced at the Rising Northeast Investors Summit. The money will go into green energy, hydroelectric projects, roads, power lines, digital systems, and skill training. Three months earlier, Adani had made a similar promise for Assam.
Gautam Adani said the Northeast is full of diversity and potential. He believes the region is becoming more important for India’s growth story.
