Diamond Infosystems Ltd. (BSE:530801) announced a private placement of 2,000,000 equity warrants on December 29, 2015. The transaction will include participation from Manacles Enterprise Pvt. Ltd. for 750,000 warrants, Vikas Coating Private Limited for 750,000 warrants, and Vikas Ferro Pvt.

Ltd. for 500,000 warrants. The warrants will be issued on preferential basis. The transaction has been approved by the company's board of directors.

The transaction is subject to company's shareholders' approval at its extra ordinary general meeting to be held on February 5, 2016.