Latest news with #DPIL
India.com
28-05-2025
- Business
- India.com
Gautam Adani in race to buy Rs 50000000000 company, may change game for group, deal will strengthen its…
Diamond Power Infrastructure Limited (DPIL) is a power sector company which manufactures cables, conductors, transmission towers, and power distribution systems. According to The Economic Times , DPIL promoters are in discussions with three potential buyers including the Adani Group. If the deal becomes successful it will strengthen Adani's supply chain and vendor system as it plans to increase its capital expenditure (capex) in the coming years. DPIL deals in building and installing power transmission lines and has also expertise in cables, conductors, and related infrastructure. In 2022, the company was acquired through NCLT (National Company Law Tribunal) by GSEC Limited and Rakesh Shah. DPIL is currently listed on the Bombay Stock Exchange (BSE) with a market valuation of around Rs 5,000 crore. As per SEBI (Securities and Exchange Board of India) regulations, promoters of a listed company cannot hold more than 75% of the shares. DPIL's promoters hold a 90% stake, reduced from earlier 94.88% in March 2024. To adhere to SEBI norms, they need to dilute their shareholding. Discussions are ongoing with potential buyers like with the Adani Group, and the deal can be finalized within the next 60 days. If the Adani Group acquires the stake, it may retain the existing management. In previous acquisitions like the 2023 purchase of a 30% stake in PSP Projects Limited it applied the same strategy. DPIL wants to achieve a revenue target of Rs 10,000 crore over the next three years but its FY2024-25 revenue was only Rs 343 crore. This expansion needs major capital infusion. Adani Group Investment In North-East Billionaire Gautam Adani on Friday committed to investing an additional Rs 50,000 crore over the next 10 years in green energy, road construction and creating digital infrastructure in the North Eastern states as his conglomerate looks to expand its presence in the east. This investment is on top of Rs 50,000 crore that his group had committed to investing in Assam in February. Speaking at the Rising NorthEast Investors Summit here, the head of ports-to-energy conglomerate said his group's initiative will prioritise local jobs, local entrepreneurship and community engagement. 'Three months ago, in Assam, we pledged an investment of Rs 50,000 crore. Today, once again, humbled and inspired by your leadership, I announce that the Adani Group will invest an additional Rs 50,000 crore across the Northeast over the next 10 years,' he said in the presence of Prime Minister Narendra Modi. (With Inputs From PTI)
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Business Standard
26-05-2025
- Business
- Business Standard
Adani eyes DPIL stake to tighten vendor control, boost infra capex plans
Adani Group has emerged as the leading contender to acquire a stake in Ahmedabad-based Diamond Power Infrastructure Ltd, according to a report by The Economic Times. Two other parties are also reportedly in discussions with the company's promoters. This aligns with the Gautam Adani-led conglomerate's strategy to gain tighter control over its vendor ecosystem as it ramps up capital expenditure over the coming years. Diamond Power Infrastructure Ltd (DPIL) operates across the power infrastructure value chain, with capabilities in cables, conductors, transmission towers, and power transmission and distribution. The company also undertakes turnkey manufacturing and installation of transmission line towers and components. DPIL was acquired in 2022 by a consortium comprising GSEC Ltd and Rakesh Shah through the National Company Law Tribunal (NCLT) route. It is currently listed on the BSE and has a market capitalisation of around ₹5,000 crore. DPIL promoters to dilute stake to meet regulatory norms According to Securities and Exchange Board of India (Sebi) regulations, listed companies must limit promoter holdings to 75 per cent. DPIL's promoters currently hold 90 per cent, a reduction from 94.88 per cent as of March 2024. 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75 per cent from the present 90 per cent, as per Sebi norms,' a source said, as quoted by the report. A deal is expected within the next 60 days. Also Read Existing management may stay in place Should Adani Group secure the stake, it is likely to retain the current management — a model it previously adopted in other acquisitions. This includes PSP Projects Ltd, where Adani picked up a 30.07 per cent stake for ₹685 crore in 2023 while keeping the existing team in charge. In a similar strategic move in October last year, Adani's Renew Exim DMCC acquired a majority interest in ITD Cementation India, an EPC and civil infrastructure firm with operations both in India and abroad, The Economic Times reported. Adani Group's capex push and growth plans The stake acquisition in DPIL is part of Adani Group's broader capital expenditure push. The group is planning to increase its capex for the current financial year by up to 15 per cent, reaching ₹1.4 trillion to 1.45 trillion, compared to ₹1.26 trillion in FY25. For DPIL, the capital infusion from the stake sale is expected to support its expansion drive. The report quoted a source as saying, 'The company is targeting revenues of ₹10,000 crore over the next three years.' In FY25, DPIL posted a revenue of ₹343 crore. Adani pledges ₹50,000 crore for NE development At the recently concluded Rising Northeast Investors Summit, Adani Group Chairman Gautam Adani announced a fresh ₹50,000 crore investment commitment for the region over the next 10 years. This comes just three months after the group pledged a similar amount for Assam. 'Three months ago in Assam, we pledged an investment of ₹50,000 crore. Today, once again humbled and inspired by your (PM Modi) leadership, I announce that Adani Group will invest an additional ₹50,000 crore across the Northeast for the next 10 years,' Adani said at the event. The proposed investment will support a wide spectrum of sectors, including green energy, hydroelectric projects, power transmission, roads and highways, smart meters, digital infrastructure, and logistics. In addition, a significant portion will be directed towards vocational training and skill-building initiatives. Calling the Northeast 'a story rooted in diversity, resilience, and untapped potential', Adani noted the region's increasing role in India's national vision. He said it now represents India's cultural pride, economic promise, and strategic importance.
Business Mayor
26-05-2025
- Business
- Business Mayor
Adani Group ahead of two others in race for Diamond Power stake
The Gautam Adani-led conglomerate's interest in DPIL stems from its aim to gain better control of the vendor ecosystem, as it moves to significantly enhance capex in the coming few years. DPIL is a vertically integrated power infrastructure company with a presence across cables, conductors, transmission towers, and power transmission and distribution segments. The company is also engaged in manufacturing and installation of transmission line towers and parts on a turnkey basis. Existing Mgmt may Still Run Ops 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75% from the present 90%, as per Sebi norms,' one of the persons cited above said, adding that a deal is likely in the next 60 days. Promoters of BSE-listed DPIL currently own 90% of the company, declining from 94.88% in March 2024. DPIL has a market capitalisation of around Rs 5,000 crore. The people did not disclose the size of stake the promoters are looking to sell. Parties competing with Adani for the DPIL stake could not be ascertained. DPIL was acquired by a consortium of GSEC Ltd and Rakesh Shah through a National Company Law Tribunal process in 2022. The people cited above said Adani Group is likely to follow the current model of acquiring a stake in the company and allowing the existing management to run operations. This would mirror its strategy deployed with construction company PSP Projects Ltd, wherein it had acquired a 30.07% stake for Rs 685 crore last last October, Adani Group arm Renew Exim DMCC took a majority stake in ITD Cementation India. ITD Cementation is an engineering and construction company with civil, infrastructure, and engineering, procurement and construction (EPC) businesses in India and overseas. Adani Group plans to boost capex for the current fiscal year by up to 15% to Rs 1.4-1.45 lakh crore. Capex in FY25 hit an all-time high of Rs 126,000 crore. EXPANSION PLANS DPIL will use proceeds from the stake sale to further expand operations with the company targeting revenues of Rs 10,000 crore in the next three years, the person said. The company ended FY25 with Rs 343 crore revenue. Adani Group and DPIL did not respond to email queries.
Time of India
26-05-2025
- Business
- Time of India
Adani Group ahead of two others in race for Diamond Power stake
MUMBAI: Adani Group is the frontrunner for a stake in Ahmedabad-based Diamond Power Infrastructure Ltd (DPIL), said people close to the development. Two other contenders are also in the race, the people said. The Gautam Adani-led conglomerate's interest in DPIL stems from its aim to gain better control of the vendor ecosystem, as it moves to significantly enhance capex in the coming few years. DPIL is a vertically integrated power infrastructure company with a presence across cables, conductors, transmission towers, and power transmission and distribution segments. The company is also engaged in manufacturing and installation of transmission line towers and parts on a turnkey basis. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like '엄마, 천국 가면 다시 만날 수 있어?' 월드비전 더 알아보기 Undo Existing Mgmt may Still Run Ops 'Including the Adani Group, DPIL is in discussion with three suitors for a stake sale as promoters need to bring down their holding to 75% from the present 90%, as per Sebi norms,' one of the persons cited above said, adding that a deal is likely in the next 60 days. Promoters of BSE-listed DPIL currently own 90% of the company, declining from 94.88% in March 2024. Live Events DPIL has a market capitalisation of around Rs 5,000 crore. The people did not disclose the size of stake the promoters are looking to sell. Parties competing with Adani for the DPIL stake could not be ascertained. DPIL was acquired by a consortium of GSEC Ltd and Rakesh Shah through a National Company Law Tribunal process in 2022. The people cited above said Adani Group is likely to follow the current model of acquiring a stake in the company and allowing the existing management to run operations. This would mirror its strategy deployed with construction company PSP Projects Ltd , wherein it had acquired a 30.07% stake for Rs 685 crore last year. Also, last October, Adani Group arm Renew Exim DMCC took a majority stake in ITD Cementation India . ITD Cementation is an engineering and construction company with civil, infrastructure, and engineering, procurement and construction (EPC) businesses in India and overseas. Adani Group plans to boost capex for the current fiscal year by up to 15% to Rs 1.4-1.45 lakh crore. Capex in FY25 hit an all-time high of Rs 126,000 crore. EXPANSION PLANS DPIL will use proceeds from the stake sale to further expand operations with the company targeting revenues of Rs 10,000 crore in the next three years, the person said. The company ended FY25 with Rs 343 crore revenue. Adani Group and DPIL did not respond to email queries.
India.com
29-04-2025
- Business
- India.com
Not Tata Birla THIS Business Man Has Their Own Hill Station In India, His Net Worth Is…
photoDetails english 2892941 Updated:Apr 29, 2025, 04:50 PM IST Meet Man Who Now Owns Hill Station 1 / 8 Ajay Harinath Singh has made history by becoming the only Indian whose company will own and develop a hill station. His firm, Darwin Platform Infrastructure Ltd (DPIL), has been given the green light to take over Lavasa, a scenic but long-stalled project near Mumbai. What is Lavasa? 2 / 8 Lavasa is India's first planned artificial hill station, located about 180 km from Mumbai and close to Pune. Nestled in the lush Mulshi valley of the Western Ghats, Lavasa covers a vast 20,000 acres and was originally envisioned as a modern, European-style town. A Big Win with a Rs 1814 Crore Deal 3 / 8 The National Company Law Tribunal (NCLT) approved DPIL's Rs 1814 crore bid to take over the Lavasa project. Singh's firm now holds the responsibility to revive and develop this dream city into a world-class destination. Who is Ajay Harinath Singh? 4 / 8 Singh is an alumnus of Mumbai University and the chairman of the Darwin Platform Group. Known for his diverse business interests, he leads a conglomerate that is now worth over Rs 68,796 crore (about 8.4 billion dollars). Notably, his companies are reported to be debt-free. A Business Empire Spanning the Globe 5 / 8 Founded in 2010, Singh's group now includes more than 21 companies operating across 11 countries. From infrastructure and refineries to retail, hospitality, and finance, the group has built a strong global presence in just over a decade. Singh's Eye for Big Opportunities 6 / 8 Singh has never shied away from ambitious moves. His firm has previously placed bids for major assets like Jet Airways, Air India, and Shipping Corporation of India. He also showed interest in acquiring Reliance Capital from the Anil Ambani Group. His Vision for Lavasa 7 / 8 Speaking about the Lavasa project, Singh said, 'The NCLT has entrusted us with a challenging task to develop an ambitious world-class smart city. We're eager to revitalise this project and bring it back to life as planned.' The Only Indian to Own a Hill Station 8 / 8 With the Lavasa acquisition, Singh has earned a rare title—he's now the only Indian whose firm owns a full-fledged hill station. From scenic views to smart city dreams, Lavasa is now set for a major comeback under his leadership. (Images credit: @achyuta_samanta/X, @Darwinplatform1/X)
