TD Power Systems IPO: Completes allocation to Anchor Investors

 

TD Power Systems Limited which is tapping the capital markets with its IPO to raise Rs 227 crs in a price band of Rs 256-261, today allocated the shares to anchor investors. There are five entities who have been allocated 13,04,550 shares at Rs 256 which is the lower end of the price band.

There is a new trend which is being witnessed in IPO’s these days where the anchor allotment is being done at the lower end. In a few issues it has been found that the anchor has lost money as the issue price was fixed lower than the allocation to anchor. However if the issue price fixed is higher than the anchor price, the difference has to be paid by the anchor.

Anyway the issue from TD Power Systems opens on Wednesday the 24th of August and closes on the 26th of August. The IPO grade is 4/5 from CARE indicating above average fundamentals. The complete list of anchor investors is enclosed below.

List of Anchor Investors: –


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