TD Power Systems, one of the leading manufacturers of AC Generators with output capacity in the range of 1 MW to 52 MW, proposes to enter the capital markets on August 24, 2011 with a public issue of equity shares through 100% book building process.The price band has been fixed at Rs 256-261 per equity share of Rs 10 each.
Credit Analysis & Research (CARE) has assigned grade 4/5 to the issue indicating above average fundamentals.
Enam Securities Pvt Ltd is the global co-ordinator and book running lead manager for the issue.
Antique Capital Markets Pvt Ltd and Equirus Capital Pvt Ltd are the book running lead managers for the issue. Link Intime India Pvt Ltd is the registrar to the issue.
The issue closes on August 26, 2011 and the equity shares are proposed to be listed on the NSE and the BSE.
The company proposes to utilize the net proceeds of the issue mainly to finance the expansion of the existing manufacturing plant in Dabaspet, Bangalore and for the construction of a project office in Bangalore. It also proposes to utilize part of the net proceeds to repay debt, fund working capital requirements and for other general corporate purposes.
In addition to manufacturing AC Generators, the company also executes Turbine Generator (TG) island projects for steam turbine power plants with output capacity up to 52 MW using a Japanese turbine combined with TD Power generator.
As of June 30, 2011 the company has completed a total of 92 TG island projects with an aggregate output capacity of 1,799 MW in India, Uganda, Kenya, Zambia and Philippines. As June 30, 2011, the company’s cumulative order book was Rs 1,094.68 crore.
Its customer base primarily comprises companies operating in the industrial sector and includes cement, steel, paper, chemical, metals, sugar co-generation, bio-mass power plants, hydro-electric power plants, etc.
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