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Shakti Pumps (India) Limited successfully raises Rs. 200 Crores through QIP

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17 Apr, 24 10:30
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Shakti Pumps (India) Limited successfully raises Rs. 200 Crores through QIP

Shakti Pumps (India) Limited, a prominent manufacturer of solar pumps and motors, has completed a successful Qualified Institutional Placement (QIP) of Rs. 200 Crores. The QIP received strong interest from qualified domestic institutional investorsandwasfullysubscribed by LIC Mutual Fund and SBI Mutual Fund. The funds raised will primarily be allocated to enhancing the capacity of pumps, motors, inverters, and structures, reflecting the growth potential of the solar pumps industry, particularly under the PM KUSUMScheme.Mr.DineshPatidar,ChairmanofShaktiPumps (India) Limited, expressed delight at the confidence shown by investors, highlighting the company's commitment to expansion and quality service.


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