Converting .vhd file to .raw - File is too small and does not boot

I have a Hyper-v .vhd file I am trying to convert to .raw for Proxmox however every time I convert the size is less than half of the actual disk space used and when I import it doesn't boot.

I download the .vhd directly off my Windows machine and run the following command to convert

qemu-img convert -f vpc -O raw Rami.vhd Rami.raw

Then import

dd if=Rami.raw of=/dev/bigdata/vm-102-disk-1

I also tried with qcow2 but it doesn't work also(file size too small and doesn't boot). Does the disk size matter? This is a 300GB .vhd file and I have done the exact same thing with other .vhd files less than 50GB with no problems.

What am I missing?