Shakti Pumps Limited has set up a wholly owned subsidiary, Shakti EV Mobility Private Limited, with a consolidated investment of Rs 350 million through the subscription of 3,000,000 equity shares of Rs 10 each. The new entity will focus on manufacturing, processing, trading, and distributing electric vehicle (EV) motors and charger controllers. The subsidiary aims to expand its presence in the EV mobility sector.
Shakti Pumps Limited has invested Rs 40 million in its wholly owned subsidiary, Shakti Energy Solutions Private Limited (SESPL), by subscribing to 40 million equity shares with a face value of Rs 1 each. The investment aims to expand SESPL’s business operations to align with Shakti Pumps’ growth strategy.
Shakti Pumps Limited has secured a contract from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply and install 25,000 stand-alone off-grid direct current solar photovoltaic water pumping systems. The contract, valued at Rs 7.54 billion, includes the design, manufacture, transport, installation, testing, and commissioning of the systems. In November 2024, Shakti Pumps received an award from the Haryana Renewable Energy Development Agency (HAREDA) for the supply, installation, and commissioning of 17,458 solar water pumping…