Shakti Pumps invests Rs 600 million in EV mobility subsidiary

Shakti Pumps Limited has invested Rs 600 million in its wholly owned subsidiary, Shakti Electric Vehicle (EV) Mobility Private Limited, by subscribing to 6 million equity shares with a face value of Rs 10 each.

Last week, Shakti Pumps invested Rs 390 million in the subsidiary by subscribing to 4 million equity shares. 

Shakti EV Mobility is engaged in manufacturing, processing, trading, and distributing EV motors and charger controllers.  

Established in December 2021, Shakti EV Mobility focuses on developing EV components to support the growing demand for electric vehicles.