Shakti Pumps (India) Limited — JV/Acquisition, 17-02-2025: Acquisition

Shakti Pumps (India) Limited has made an investment of Rs. 4 Cr in its wholly owned subsidiary, Shakti EV Mobility Private Limited, by subscribing to 40,00,000 equity shares. This brings the total investment in Shakti EV Mobility to Rs. 39 Cr. The acquisition aims to enhance and expand the subsidiary's operations, which focus on manufacturing electric vehicle motors and chargers. With a total asset size of approximately Rs. 37.24 Cr and a turnover of Rs. 4.30 Cr as of March 2024, this strategic move is set to bolster the company’s presence in the growing electric vehicle market.