TD Power Systems has received in-principle approval from the Bombay Stock Exchange and the National Stock Exchange for a preferential issue of equity shares to its promoters.

The company secured the regulatory nod on September 11, 2026, paving the way for the issuance of 12,50,000 equity shares. The issue price is set at not less than ₹600 per share, with a face value of ₹1 each.

Issue Details

The preferential allotment is directed exclusively toward the promoters of TD Power Systems Limited. The transaction falls under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

Both exchanges have emphasized strict adherence to statutory guidelines. The company must ensure compliance with the Companies Act, 2013, the Securities Contracts (Regulation) Act, 1956, and the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

TD Power Systems is required to strengthen internal controls to monitor trades by proposed allottees. Specifically, the company must obtain undertakings from allottees confirming no intra-day trading or sales in the scrip until the allotment date. Any non-compliance could impact the listing of these shares.

Upon allotment, the company must file a listing application within twenty days, as mandated by recent SEBI circulars. Failure to comply may attract fines. The exchanges reserve the right to withdraw approval if submitted information is found to be incomplete, incorrect, or misleading.

Shareholders of TD Power Systems approved a ₹75 crore preferential equity issuance to promoters and a Qualified Institutions Placement (QIP) during an extraordinary general meeting on September 10, 2026.

The company held the meeting through video conferencing and other audio-visual means. All resolutions outlined in the notice dated August 14, 2026, were passed with the requisite majority.

Voting Results

A total of 213,921,106 votes were polled out of 312,456,860 shares held as on the record date of September 3, 2026, representing a participation rate of 68.46%.

Resolution 1: Preferential Issue

The first special resolution authorized the issuance of equity shares on a preferential basis to certain promoters for an aggregate consideration not exceeding ₹75 crore. Promoters are interested in this resolution.

Resolution 2: QIP Authorization

The second resolution permitted raising capital through a QIP in one or more tranches via equity shares or other eligible securities. Promoters are not interested in this agenda item.

What the Numbers Show

Promoter support was unanimous for both resolutions, with 100% of their polled votes cast in favour. This aligns with their interest in the preferential issue resolution. Institutional investors showed strong backing but registered slightly higher dissent compared to non-institutional public shareholders, who voted 99.84% and 99.89% in favour respectively.

Scrutinizer Details

Sudhir Vishnupant Hulyalkar, Company Secretary in Practice, served as the scrutinizer. The voting period for remote e-voting ran from September 7, 2026, at 9:00 am to September 9, 2026, at 5:00 pm. A total of 53,716 votes were declared invalid across both resolutions due to lack of proper authorization from institutional shareholders.