Shakti Pumps (India) Limited — Others, 14-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Shakti Pumps (India) Limited has announced a board meeting to discuss the Statement of Deviation in the utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ended December 31, 2024. The company confirmed that there were no deviations in fund utilization, with a total of ₹200 crore raised. Of this, ₹86.08 crore was used for capacity expansion at the new facility in Madhya Pradesh, while the remaining allocations for general corporate purposes and issue expenses were kept intact. This consistency in fund allocation may bolster investor confidence, indicating prudent financial management and adherence to strategic goals.