Shakti Pumps (India) Limited (SPIL) is set to invest ₹3.8 crores in its wholly owned subsidiary, Shakti Energy Solutions Private Limited (SESPL). This investment aims to support SESPL’s business expansion and will be made through the issuance of equity shares in a phased manner, as per the agreed terms. The acquisition does not require any government or regulatory approvals and is expected to be completed on the same day.
Established on September 6, 2010, SESPL recorded a turnover of ₹139.59 crores in FY 2024. The company specializes in manufacturing solar structures and offers products such as poly houses and solar rooftops. The turnover for the past three fiscal years is as follows:
- FY 2024: ₹139.59 crores
- FY 2023: ₹99.15 crores
- FY 2022: ₹154.63 crores
As SESPL is a wholly owned subsidiary of SPIL, the transaction is not categorized as a related party transaction, and arm’s length considerations are not applicable.