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.

TD Power Systems disclosed an indirect acquisition of equity shares by its promoter group on August 25, 2026. The filing confirms that there is no change in the overall promoter holding or control of the company.

The disclosure was made in terms of Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction involved an internal restructuring within the promoter entity, Sapphire Finman Services LLP, rather than a direct market purchase or sale.

Promoter Entity Restructuring

The indirect acquisition resulted from a change in the profit-sharing ratio among partners of Sapphire Finman Services LLP, which holds 13.22% of TD Power Systems' equity. The total shareholding of the promoter group remains unchanged at 26.87% (83,957,322 shares).

Changes in Profit Sharing Ratio

The following changes occurred in the profit-sharing ratios of Sapphire Finman Services LLP:

Sofia Mohib Khericha’s share increased to 22.22%, while Mobina Mohib Khericha’s share dropped to 0.00%. The other partners retained their existing ratios.

Shareholding Details

The total equity share capital of TD Power Systems stands at ₹31,24,56,860, comprising 31,24,56,860 equity shares with a face value of ₹1 each. The filing notes that shareholding figures have been adjusted for a previous 1:2 share split from ₹2 to ₹1 per equity share, though percentage holdings remain unchanged.

The promoter group, including Sofia Mohib Khericha, Sagir Mohib Khericha, Saphire Finman Services LLP, Aarya Sankaran Kumar, Hitoshi Matsuo, and Nikhil Kumar, continues to hold a combined stake of 26.87%. No warrants, convertible securities, or encumbrances were reported in this transaction.