Diamond Power Bags Rs 409 Crore Contract From Adani Green Energy

Diamond Power Infrastructure Ltd. bagged a contract worth approximately Rs 409 crore for the supply of low- and medium-voltage cables from Adani Green Energy, according to an exchange filing on the BSE.

"Pursuant to the relevant provisions of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we would like to inform you that our company has received a letter of intent from Adani Green Energy Ltd. worth Rs 409 crores (inclusive GST) for supply of various LV/MV cables," the filing said.

The work is expected to be completed by December 2024, from the date of acceptance.

"The MOM (month-on-month) and Letter of Intent dated July 8, 2024, have been awarded on a 'Kms rate basis with PV Formulae'", the filing said on the nature of the contract.

The company clarified that the work doesn't fall under related-party transactions.