Diamond Power Infrastructure Limited has received a Letter of Intent (LoI) from Adani Electricity Mumbai Limited for the supply of cables valued at ₹45.47 crore, inclusive of GST, the company announced in a regulatory filing.
The contract, awarded by a domestic entity, involves the supply of cables as part of Adani Electricity Mumbai’s ongoing infrastructure requirements. DPIL confirmed that the total consideration for the order stands at ₹45,47,45,592, inclusive of GST.
According to the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transaction does not fall under related party transactions. The company also confirmed that none of its promoters or promoter group entities have any interest in the awarding entity.
The development reflects ongoing investments in strengthening power infrastructure in Mumbai, with utilities continuing to expand and upgrade their cable networks to meet rising demand and enhance reliability.
Diamond Power Infrastructure Limited stated that the order aligns with its core business operations and will contribute to its order book for the upcoming financial year.
