Amit Bhatnagar, MD, Diamond Power Infrastructure said infusion of money by Chinese investor, Jiangsu Longzhe will be used to increase capacity utlisation.
Lenders have approved re-alignment of debt as per a plan submitted by the company, said Amit Bhatnagar of Diamond Power Infrastructure.
The board of Diamond Power will meet on May 16 to consider various debt realignment options, including re-organization of the business, to consider a Rs 825 crore proposal from an investor, to offer 51 percent stake to a "strategic investor", it informed the exchanges today.
The company will be offering over 1 crore warrants to promoters at a premium to its current share price, says Amit Bhatnagar, Managing Director, Diamond Power.
Diamond Power expects to clock revenue of Rs 2800 crore and hopes a net-profit Rs 80 crore in the fiscal year 2017, Amit Bhatnagar MD of the company told CNBC-TV18 in an interview today.
Amit Bhatnagar, MD of Diamond Power Infrastructure Limited says Power Grid contributes 25 percent to total orderbook and 20 percent in the exports.
The power equipment manufacturer has a debt of around Rs 1,200 crore and is likely to reduce it through QIP going ahead.
In an interview to CNBC-TV18, Amit Bhatnagar, managing director of Diamond Power Infrastructure says, the company expects to end FY12 with sales of around Rs 2,000 crore, an increase of around 30%.
Amit Bhatnagar, managing director, Diamond Power Infrastructure in an interview to CNBC-TV18 spoke about the latest happenings in the company.
Amit Bhatnagar, MD of Diamond Power Infrastructure, in an interview with CNBC-TV18’s Latha Venkatesh and Gautam Broker, spoke about the recent happenings in his company and the road ahead.