New Delhi, June 19 -- Shares of Diamond Power Infrastructure rose as much as 4% to Rs.210 apiece in intraday trade on Friday, June 19, after the company announced plans to raise up to Rs.2,000 crore through the Qualified Institutional Placement (QIP) route.

In a regulatory filing on Thursday, the company said its board had approved the issuance of equity shares through one or more tranches of QIP, increasing the fundraising limit to Rs.2,000 crore from the previously approved Rs.1,000 crore.

The company also noted that it is currently non-compliant with the minimum public shareholding (MPS) requirements prescribed under securities market regulations.

It said the proposed QIP is one of the methods permitted by market regulator SEBI to a...