Reserve Bank of India (RBI) has increased foreign institutional investors' (FIIs) investment limit in TD Power Systems to 100% of its paid-up capital. RBI notified that FIIs/Registered Foreign Portfolios Investors (RFPIs) can now purchase up to 100% (revised from earlier limit of 49%) of the paid up capital of TD Power Systems under the Portfolio Investment Scheme.
The company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.
TD Power Systems is one of the leading manufacturers of AC Generators with output capacity in the range of 1MW to 52MW for prime movers such as steam turbines, gas turbines, hydro turbines, wind turbines, diesel and gas engines. It focuses on manufacturing custom-designed generators for its customers who are based across the world.
