TD Power Systems IPO hits markets tomorrow, price band at Rs 256-261

MUMBAI: AC generator manufacturer TD Power Systems on Tuesday announced the price-band at Rs 256-Rs 261 per share for its Rs 227-crore initial public offering opening on Wednesday.

"We plan to use the issue proceeds mainly to finance expansion of our existing manufacturing plant in Dabaspet, Bangalore, repay debts and fund working capital requirements among others," TDPS joint managing director Nikhil Kumar told reporters here.

The issue carries a face value of Rs 10 per share and closes on August 26.

Apart from manufacturing AC generators, TDPS executes turbine generator island projects with output capacity up to 52 MW using Japanese technology.

Besides, it is also into engineering, procurement and construction ( EPC) business through its subsidiary DF Power Systems for executing boiler-turbine generator island projects and executing the balance of plant portion for steam turbine power plants with an output capacity of 52-150 MW.

The company has executed 94 projects aggregating 1,910.50 MW in the country and abroad, Kumar said, adding, "our exports contribute to nearly 20 percent of total revenues. Even in the current scenario where the markets are unstable, we see a positive outlook for our business. There is a huge demand from industrial sectors such as cement, steel, paper, chemical, metals, sugar co-generation, etc in domestic as well as international markets".