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TD Power Systems Shares Fall 4% Following ₹600 Crore QIP Allotment
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CNBC TV18•13-10-2026, 12:27
TD Power Systems Shares Fall 4% Following ₹600 Crore QIP Allotment
- •Shares of TD Power Systems Ltd. dropped nearly 4% on Tuesday after the successful closure of its qualified institutional placement.
- •The company raised ₹600 crore by allotting 77.42 lakh equity shares at ₹775 apiece to eligible institutional investors.
- •Key allottees included prominent mutual funds such as Axis Mutual Fund, Canara Robeco Mutual Fund, and ICICI Prudential Mutual Fund.
- •Following the share allotment, TD Power Systems' paid-up equity share capital increased from ₹31.37 crore to ₹32.14 crore.
Key Questions Answered
Shares of TD Power Systems Ltd. fell nearly 4% on Tuesday, October 13, 2026, after the company closed its qualified institutional placement (QIP) and allotted shares to eligible institutional investors to raise ₹600 crore.
The company’s Fund Raising Committee approved the allotment of 77.42 lakh equity shares at ₹775 apiece, aggregating to ₹599.99 crore, which represented a 0.05% discount to the floor price of ₹775.35 per share.
Key institutional allottees included Axis Mutual Fund, Canara Robeco Mutual Fund, and ICICI Prudential Mutual Fund, which each received 10,32,258 shares representing 13.33% of the issue, alongside Mirae Asset Mutual Fund which was allotted 6,45,161 shares.
