TD Power Systems Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Promoter Nikhil Kumar, along with other promoter group members, has submitted the annual disclosure under SEBI Takeover Regulations confirming that none of the 5,18,78,661 equity shares (33.22% of total shareholding) held by the promoter and promoter group in TD Power Systems were encumbered (pledged) at any point during FY 2024-25. The promoter group's largest holders are Saphire Finman Services LLP at 15.34%, Nikhil Kumar at 11.18%, and Hitoshi Matsuo at 6.43%. This is a routine annual compliance filing, not triggered by any specific event.
Reassuring for shareholders — no pledge or encumbrance risk on promoter holdings, indicating promoters have not used their shares as collateral for loans. However, with promoter holding at just 33.22%, the company lacks a controlling promoter, leaving it more exposed to potential takeover activity or large institutional stake-building.