Shakti Pumps (India) Limited has invested ₹12,00,00,000/- (₹12 Crores) in its wholly-owned subsidiary, Shakti EV Mobility Private Limited. This investment, made by subscribing to 1,20,00,000 equity shares, is aimed at expanding the subsidiary’s electric vehicle business. The consolidated investment in the subsidiary now stands at ₹92,00,00,000/- (₹92 Crores).
Shakti Pumps Invests Heavily in Electric Vehicle Subsidiary
Shakti Pumps (India) Limited announced a significant investment of ₹12,00,00,000/- (Rupees Twelve Crores Only) into its wholly-owned subsidiary, Shakti EV Mobility Private Limited. This capital infusion was executed through the subscription of 1,20,00,000 Equity Shares, each with a face value of ₹10/- (Rupees Ten). This strategic move underscores the company’s commitment to bolstering its presence in the burgeoning electric vehicle sector.
Expanding EV Business Operations
The investment is poised to fuel the expansion of Shakti EV Mobility Private Limited’s operations, which are focused on the manufacturing of electric vehicle motors for various vehicle types, including two-wheelers, three-wheelers, and four-wheelers, as well as special-purpose electric vehicles. The company also manufactures chargers for electric vehicles.
Consolidated Investment Grows
Following this latest tranche of investment, the consolidated investment in Shakti EV Mobility Private Limited has reached ₹92,00,00,000/- (Rupees Ninety Two Crores Only). The subsidiary was incorporated on 16th December, 2021. The company’s disclosures indicate that this investment is not considered a related-party transaction and is conducted on an arm’s length basis.
Future Outlook and Growth Strategy
The primary objective behind this acquisition is to initiate and expand the business of the wholly-owned subsidiary. Shakti EV Mobility Private Limited is engaged in the manufacturing of various types of electric vehicle motors and charger controllers. The company’s turnover for the previous three years has been reported, with projections for FY 2026 at ₹2,425.41 Lacs, FY 2025 at ₹372.73 Lacs, and FY 2024 at ₹430.09 Lacs.
Source: BSE
