Baring India, IDFC anchor TD Power Systems’ IPO
Baring India Private Equity and IDFC are two of five anchor investors that have together committed INR334 million ($7.2 million) to TD Power Systems ahead of its IPO. The company, which manufacturers AC generators, counts Ironwood Investment Holdings, Smallcap World Fund and American Fund Insurance as its other backers.
The five investors have subscribed to 1.3 million shares priced at INR256 per share, the low end of TD's indicative range. Smallcap World Fund accounts for nearly half the issue, with IDFC, American Fund...
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