The recent diphoton excess signal at an invariant mass of 750 GeV can be interpreted in the framework of left-right symmetric models with additional scalar singlets and vector-like fermions. We propose a minimal scenario for such a purpose. Extending the LRSM framework to include these new vector-like fermionic fields, on the other hand, results in interesting phenomenological implications for the LRSM fermion masses and mixing. Furthermore, existence of such vector-like fermions can also have interesting implications for baryogenesis and the dark matter sector. The introduction of a real bi-triplet scalar which contains a potential DM candidate will allow the gauge couplings to unify at $approx 10^{17.7}$ GeV.