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Shakti Pumps raises Rs 2.93 billion through QIP
Shakti Pumps has completed its qualified institutions placement (QIP) issue, raising Rs 2.926 billion from institutional investors. The shares were issued at Rs 918.00 each, reflecting a 4.97 per cent discount to the Securities and Exchange Board of India’s floor price of Rs 965.96. The funds will be used to set up a greenfield manufacturing…
Crescentia Technology signs PPA for 65.7 MW solar project
Crescentia Technology Private Limited, the special purpose vehicle (SPV) of Bhagyanagar India Limited, has signed a 25-year power purchase agreement (PPA) with Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for setting up 65.7 MW of grid-connected solar power plants under the Renewable Energy Service Company (RESCO) model. The project will be developed under…
HAREDA awards contracts for 17,458 solar pumps under PM KUSUM
The Haryana Renewable Energy Development Agency (HAREDA) has awarded contracts for the supply, installation, and commissioning of 17,458 solar water pumping systems under Component B of the PM KUSUM programme. Leading recipients include Shakti Pumps with 3,174 units, AVI Appliances with 2,811, and Oswal Pumps with 2,539. Other notable companies, such as Ethos Power, Rotomag…
Oswal Pumps posts strong revenue growth in 9M FY26
Oswal Pumps Limited reported strong financial performance for the third quarter and the first nine months of FY26. For the nine-month period ended FY26, total income rose to Rs 15,692 million, reflecting a 47.0% increase compared to the same period last year. Profit after tax (PAT) stood at Rs 2,837 million, translating into a margin…
India’s short-term power trading market grows 12% in FY24
Power trading in India’s short-term market rose by 12% in FY24, reaching 218.22 billion units (BU) from 194.35 BU in FY23, as reported by the Central Electricity Regulatory Commission (CERC). Short-term transactions, including deviation settlement mechanism (DSM) volumes, consist of contracts under one year, executed bilaterally or through power exchanges, representing 12.5% of the…
Centre allocates 5,000 MW solar projects under PM-KUSUM in Rajasthan
The Central Government has approved an additional 5,000 MW of decentralized solar power projects under Component A of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program in Rajasthan. This allocation supports the Rajasthan government’s vision of providing daytime electricity to farmers by 2027. The state received an additional quota following a representation…
