TD Power IPO looks set for smooth sail

Bengaluru : The IPO was subscribed 0.88 times till the end of the second day of the issue.Thu, 25 Aug 2011 23:32:48 :The initial public offer (IPO) of TD Power Systems looks set for a smooth sail as it was subscribed 0.88 times till the end of the second day of the issue on Thursday.

The company's IPO received bids worth 66.85 lakh equity shares till 5 pm, as against 75.62 lakh shares on offer, as per the data available on the National Stock Exchange

The company has entered the market with a price band of Rs 256-Rs 261 per equity share of Rs 10 each. The issue, which opened for subscription on Wednesday, will close on Friday.