Shakti Pumps invests ₹4 crore in Shakti EV Mobility Private Limited • EVreporter

Shakti Pumps (India) Limited has invested ₹4 Crore in its wholly owned subsidiary, Shakti EV Mobility Private Limited (formerly Shakti Green Industries Private Limited), through the subscription of 40,00,000 equity shares with a face value of ₹10 each. The consolidated investment amounts to ₹39 Crores after the subscription of the aforementioned equity shares, as per the intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated 17th February 2025.

Shakti EV Mobility Private Limited is involved in manufacturing electric vehicle motors for two-wheelers, three-wheelers, four-wheelers, special-purpose electric vehicles, and other applications. It also produces electric vehicle chargers and controllers.

Shakti EV Mobility Private Limited was incorporated on December 16, 2021, and as of March 31, 2024, it has total assets valued at ₹3,723.92 Lacs and a turnover of ₹430.09 Lacs.

The investment was made to support and expand the operations of Shakti EV Mobility Private Limited. The acquisition does not qualify as a related party transaction, as Shakti EV Mobility Private Limited is promoted by Shakti Pumps (India) Limited and remains a wholly owned subsidiary. Therefore, the transaction is not subject to arm’s length criteria.

No government or regulatory approvals are required for the acquisition. The investment has been completed on the same day. The percentage of shareholding will be issued periodically as per the agreement.

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