TD Power Systems has opened its qualified institutions placement (QIP) of equity shares at a floor price of ₹775.35 per share, as reported by CNBC TV18. The company's Fund Raising Committee approved the opening of the issue, along with the preliminary placement document and draft application form for the QIP. The floor price has been set based on the pricing formula under the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements Regulations. The relevant date for the purpose of the issue was fixed as October 7, 2026, with the Fund Raising Committee meeting commencing at 6:30 pm and concluding at 6:45 pm IST on the same day.
The company may offer a discount of up to 5% on the floor price, subject to the approval already received from shareholders, according to CNBC TV18. This would put the potential discounted price at about ₹736.58 per share. The final issue price will be decided by the company in consultation with the lead manager for the issue. A copy of the preliminary placement document dated October 7, 2026, has been made available on the company's website.
The board approved the fund-raising proposal on August 14, 2026, while shareholders approved a special resolution at an extraordinary general meeting on September 10, 2026, as reported by CNBC TV18. The company said its trading window had already been closed until 48 hours after the conclusion of the board meeting to consider unaudited financial results for the period ended September 30, 2026. In compliance with the company's code of conduct for prevention of insider trading, the trading window for dealing in securities remains closed until 48 hours after the conclusion of the board meeting.
Shares of TD Power Systems closed 0.49% higher at ₹820 on October 7, according to CNBC TV18. The positive market response occurred on the same day the company announced the opening of its QIP, indicating investor confidence in the fund-raising initiative. Historical stock performance shows the stock has delivered +86.83% returns over 5 days, +10.94% over 1 month, +158.00% over 6 months, +2,421.03% over 1 year, and +2,421.03% over 5 years.
