TD Power Systems Limited has announced the outcome of its Board meeting held on August 14, 2026. The company approved a dual fundraising strategy, including a preferential issue to promoters Nikhil Kumar and Mohib Nomanbhai Khericha, and a Qualified Institutions Placement (QIP) aiming to raise up to ₹600 Crores. This capital infusion is intended to fund future growth initiatives and strengthen the company’s financial position.
TD Power Systems Board Approves Significant Fundraising Initiatives
At a Board of Directors meeting held on August 14, 2026, TD Power Systems Limited (the “Company”) approved key strategic decisions aimed at bolstering its financial capacity for future growth. The resolutions passed include a preferential issue of equity shares and a Qualified Institutions Placement (QIP), subject to member and other necessary approvals.
Preferential Issue to Promoters
The Board approved the fundraising by way of a preferential issue. This involves the issuance of equity shares on a private placement basis to promoters Nikhil Kumar and Mohib Nomanbhai Khericha. The details of the proposed issuance are as follows:
-
Nikhil Kumar: Proposed to be issued 3,12,500 Equity Shares at a face value of ₹2 per share (pre-split), or 6,25,000 Equity Shares at a post-split face value of ₹1 per share. The issue price is ₹1,200.00 per share (pre-split) or ₹600.00 per share (post-split).
-
Mohib Nomanbhai Khericha: Proposed to be issued 3,12,500 Equity Shares at a face value of ₹2 per share (pre-split), or 6,25,000 Equity Shares at a post-split face value of ₹1 per share. The issue price is ₹1,200.00 per share (pre-split) or ₹600.00 per share (post-split).
These figures have been adjusted to reflect the sub-division of equity shares approved on May 14, 2026, where one equity share of face value ₹2 was split into two shares of face value ₹1 each. The Record Date for this sub-division was August 24, 2026.
Qualified Institutions Placement (QIP)
In addition to the preferential issue, the Company plans to raise funds through a QIP. This aims to raise an aggregate amount not exceeding ₹600 Crores (Rupees Six Hundred Crores Only) or an equivalent amount by issuing equity shares or other securities. This placement is also subject to the necessary regulatory and statutory approvals, including shareholder approval.
Convening of Extra-Ordinary General Meeting (EGM)
To obtain the required shareholder approvals for these fundraising initiatives, the Company will convene an Extra-Ordinary General Meeting (EGM) on September 10, 2026. The EGM will be conducted via video conferencing or other audio-visual means. The cut-off date for determining shareholder eligibility to vote at the EGM has been set as September 3, 2026.
Meeting Details and Disclosure
The Board of Directors’ meeting commenced at 4:00 PM (IST) and concluded at 4:30 PM (IST) on August 14, 2026. A copy of this disclosure has been uploaded on the Company’s website, www.tdps.co.in.
Source: BSE
