InGovern Research Services writes to Sebi over TD Power IPO disclosures

InGovern Research Services has written a letter to market regulator Securities and Exchange Board of India (Sebi) and stock exchanges over alleged omissions and suppression of material facts and material misstatements in the 2011 initial public offering (IPO) prospectus of TD Power Systems (TDPS).

“We are in receipt of various documents including the shareholders’ agreement of TDPS and the termination letter by an anonymous whistleblower… The IPO document of TDPS had many misstatements and vital suppressions made therein, meriting an investigation by the exchanges and Sebi in the public interest,” InGovern has said in a letter dated 5 October.