TD Power IPO to hit mkt tomorrow

The issue, which will open for subscription tomorrow, will close on August 26, TD Power Systems said in a statement.

The price band has been fixed at Rs 256-261 per equity share of Rs 10 each. The equity shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

The company proposes to utilise the 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.

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