Diamond Power Infrastructure Ltd. (NSE: DIACABS) has announced the acquisition of machinery and equipment valued at ₹49.74 crore, excluding taxes. The purchase involves transactions with four sellers—Syska Miterr Private Limited, Miter & Miter Engineers Private Limited, Emdet Engineers Private Limited, and Miter and Miter. No entities are being acquired, making this a simple asset purchase agreement.
The acquisition aligns with the company’s strategic plan to expand into the copper wire and cables segment, complementing its existing focus on manufacturing and selling aluminum conductors and cables. The transaction will be funded entirely through cash and is expected to be completed within 90 days.
Notably, this acquisition does not involve any related party transactions, ensuring transparency and compliance. There are no regulatory approvals required for this deal, simplifying the process further.
With this investment, Diamond Power Infrastructure aims to strengthen its position in the growing copper wire and cables market.
