TD Power Systems Ltd Plans $50 Million IPO-The Wall Street Journal

The Wall Street Journal reported that TD Power Systems Ltd., a maker of electricity generators and turbines, said it plans to raise INR2.27 billion ($50 million) through its initial share sale, which will open on August 24, 2011 with a price band of INR256-261 per share. Enam SecuritiesPvt. Ltd., Antique Capital Markets Pvt. Ltd. and Equirus Capital Pvt. Ltd. are managing the deal. The Company said it plans to use the proceeds from the sale to expand an existing manufacturing plant in Dabaspet, an industrial area in Bangalore, and build an office in the southern Indian city, in addition to other expenses.