GSEC, Rakesh Shah consortium win bid for Diamond Power Infra

A consortium of Ahmedabad-based GSEC Ltd and its promoter Rakesh Shah has emerged as the winning bidder for Diamond Power Infrastructure Ltd that is undergoing a debt resolution process under the Insolvency and Bankruptcy Code (IBC) framework. The company had failed to find a buyer when the lenders initially attempted to sell it. Diamond Power Infrastructure is a vertically integrated power infrastructure provider with a presence across cables, conductors, transmission towers, and power transmission and distribution segments.