Shakti Pumps (India) Invests INR100 Million in EV Mobility Unit

MT Newswires Live

Apr 22

Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) said it has invested 100 million Indian rupees in its wholly owned subsidiary Shakti EV Mobility by subscribing to 10 million equity shares, according to a Tuesday filing to the Indian stock exchanges.

Shares of the company rose 1% in Wednesday's trade.

With this, Shakti Pumps' total investment in the EV mobility unit has increased to 650 million Indian rupees, the filing said.

The investment is aimed at supporting business expansion of the subsidiary, it added.

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