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Shakti Pumps invests Rs 5.08 crore in wholly owned subsidiary

24 Apr 2024 Evaluate

Shakti Pumps (India) has invested Rs 5.08 crore in its wholly owned subsidiary i.e. Shakti EV Mobility (formerly known as Shakti Green Industries) by subscribing to Equity Shares of nominal value of Rs 10. The consolidated investment is Rs 32 crore after subscribing aforesaid equity shares.

This investment is to initiate and expand the business of the wholly owned subsidiary. Since, the company is making an investment into its wholly owned subsidiary therefore the equity shares will be issued time to time as per the agreement.

Shakti Pumps (India) is a specialist in the manufacture of a broad range of submersible pumps and motors for a variety of applications.


Peers
Company Name CMP
Kirloskar Brothers 1766.85
Elgi Equipments 585.15
Shakti Pumps (India) 454.25
KSB 806.60
Oswal Pumps 264.20
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