Press Release27 Mar 2024, 05:31 pm
Shakti Pumps (India) Ltd Successfully Raises Rs. 200 Crores through QIP
AI Summary
Shakti Pumps (India) Ltd., India's leading manufacturer of solar pumps and motors, has successfully raised Rs. 200 Crores through a Qualified Institutional Placement (QIP). The issue was fully subscribed by LIC Mutual Fund and SBI Mutual Fund. The funds will be strategically deployed towards increasing the capacity of pumps/motors, inverters/VFDs, and structures in the rapidly growing solar pumps industry.
Key Highlights
- Shakti Pumps (India) Ltd raised Rs. 200 Crores through a QIP
- The issue was fully subscribed by LIC Mutual Fund and SBI Mutual Fund
- Funds will be used to increase capacity in solar pumps industry
- Shakti Pumps is a leading manufacturer of solar pumps and motors