Monarch Infraparks, GSEC to sell up to 5.98% stake in Diamond Power Infra

Promoters Monarch Infraparks Pvt Ltd and GSEC Ltd will offload up to 5.98% stake in Diamond Power Infrastructure Ltd through an offer for sale (OFS), according to a regulatory filing on Wednesday.

The base issue comprises 2.1 crore equity shares, representing 3.99% of the company’s total equity. An oversubscription option of an additional 1.05 crore shares has also been included, taking the total offer size to 3.15 crore shares or 5.98% of the equity capital.

The OFS will open for non-retail investors on 5 June and for retail investors on 6 June. The floor price has been set at ₹95 per share.

The sale will be conducted via a separate window of the stock exchanges over two trading sessions. The move comes amid continued investor interest in the capital goods and power infrastructure segment.

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Shares of Diamond Power Infrastructure rose as much as 1.25% intraday to ₹108.43 on the NSE before closing 0.64% higher at ₹107.70, outperforming the Nifty 50, which ended 0.32% higher on Wednesday.