Diamond Power Infrastructure Ltd (DICABS) saw its shares gain over 4% in early morning trade after the company announced that it has received a major Letter of Intent (LoI) from Adani Green Energy Limited. The disclosure was made through an exchange filing on December 4, 2025.
According to the filing, the LoI is valued at ₹747.64 crore (excluding GST). The scope of the order includes the supply of 33kV high-voltage cables covering 2,126 kilometres and 3.3kV solar medium-voltage cables totalling 3,539 kilometres. These cables will be deployed for Adani Green Energy’s renewable energy projects located in Khavda and Rajasthan.
The execution period for the order is scheduled between January 2026 and December 2026.
DICABS also noted that the contract has been awarded by a domestic entity on a “kilometre rate basis with PV formulae”, as detailed in Annexure A of the company’s filing. The company further clarified that none of its promoters or related parties have any interest in Adani Green Energy Limited, and the transaction does not qualify as a related-party arrangement under regulatory norms.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.