Business Update23 Apr 2024, 10:24 pm
Shakti Pumps (India) Ltd. Invests Rs. 5 Crores in Subsidiary Shakti EV Mobility Private Limited
AI Summary
Shakti Pumps (India) Ltd. has announced an investment of Rs. 5 crores in its wholly owned subsidiary, Shakti EV Mobility Private Limited. The investment was made through the subscription of equity shares, increasing the consolidated investment to Rs. 32 crores. Shakti EV Mobility Private Limited, incorporated in December 2021, is engaged in the business of manufacturing electric vehicles, motors, chargers, and controllers.
Key Highlights
- Shakti Pumps invests Rs. 5 crores in its subsidiary, Shakti EV Mobility
- The investment was made through the subscription of equity shares
- Consolidated investment in Shakti EV Mobility now stands at Rs. 32 crores
- Shakti EV Mobility is a Wholly Owned Subsidiary of Shakti Pumps (India) Ltd.
- Company's subsidiary is engaged in manufacturing electric vehicles, motors, chargers, and controllers