CCP Ltd to invest Rs 128.5 crore in Diamond Cables

New Delhi, Aug 2 (UNI) Cyprus-based Clearwater Capital Partners Ltd will invest Rs 128.5 crore as long term debenture and short term debt in Diamond Cables Ltd.

Diamond Cables Ltd has entered into a subscription agreement with Clearwater Capital Partners for investment in the company for 25 lakh zero interest FCD, at a price of Rs 95 per share and one lakh warrants for Rs 95 per warrant, a company statement said today.

The company clarified it is awaiting the regulatory approval after which the allotment process will be carried out.

The company also informed about the queries received from several investors related to the status of investment by Clearwater Capital Partners.

Diamond Cables Limited is India's oldest and largest manufacturer of wire products such as cables, conductors and wire rods. It has its manufacturing facilities at Vadodara in Gujarat and 200 miles off Mumbai.

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