TD Power Ropes Baring India PE & Sequoia As Anchor Investors For IPO

Power equipment maker TD Power Systems said on Tuesday five anchor investors have subscribed to 1.3 million shares at Rs 256 each.

TD Power plans to raise Rs 2.27 billion via an initial public offering and has set a price band of Rs 256-261 a share.

Baring India Private Equity Fund, IDFC Premier Equity Fund, Ironwood Investment Holdings, Smallcap World Fund Inc and American Fund Insurance Series Global Small Capitalisation Fund has invested in the anchor portion of TD Power's IPO, it said in a notification to the stock exchanges.