Diamond Power Infrastructure Limited has received a Letter of Intent (LoI) from Uttar Gujarat Vij Company Limited for the supply of power cables valued at ₹43,93,97,438 crore (inclusive of GST), the company announced in a regulatory filing on Monday.
The order entails the supply of approximately 453 km of cables and is to be executed within a period of seven months. The execution timeline includes a commencement period of 45 days from the receipt of the letter of acceptance from respective DISCOMs, followed by delivery in equal monthly lots as scheduled.
The contract has been awarded by a domestic entity and falls under the normal course of business for the company. Diamond Power Infrastructure clarified that neither its promoters nor group companies have any interest in the awarding entity. Additionally, the order does not qualify as a related party transaction.
The development aligns with the company’s ongoing efforts to strengthen its order book and expand its footprint in the domestic power distribution segment.
