Shakti Pumps Invests ₹4 Crore to Boost SESPL’s Business Expansion

BY ADMIN • FILED 15 Dec 2024, 9:06 PM

Shakti Pumps Invests ₹4 Crore in Wholly Owned Subsidiary SESPL

Shakti Pumps (India) Limited (SPIL) has made a strategic investment of ₹4 Crore in its wholly owned subsidiary, Shakti Energy Solutions Private Limited (SESPL). The investment involves the subscription to 4 crore equity shares with a face value of ₹1 each. The equity shares will be issued progressively in line with the agreed terms.

This transaction is not classified as a Related Party Transaction, as SESPL is a wholly owned subsidiary of SPIL. Additionally, no regulatory or government approvals were required for this investment.

About SESPL:
SESPL specializes in manufacturing solar structures and is also active in products such as polyhouses, solar rooftops, and other related solutions. Established on September 6, 2010, SESPL has shown significant growth, with turnover figures for the last three fiscal years as follows:

FY 2024: ₹139.59 Crore
FY 2023: ₹99.15 Crore
FY 2022: ₹154.63 Crore

The primary objective of this investment is to fuel SESPL’s business expansion and further enhance its offerings in the renewable energy and allied sectors.