Shakti Pumps (India) Limited Announces Investment in Wholly-Owned Subsidiary Shakti EV Mobility

Shakti Pumps (India) Limited has announced an investment of ₹5 crore in its wholly-owned subsidiary, Shakti EV Mobility Private Limited. The funds were deployed through the subscription of 50 lakh equity shares, each with a face value of ₹10, increasing the company’s total consolidated investment in the subsidiary to ₹55 crore.

The investment was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is accompanied by the requisite disclosures as per Schedule III, Part A, Paragraph A(1), along with reference to SEBI Circular No. SEBI/HO/CFD/CFD-1/P/CIR/2023/123 dated July 13, 2023.

Shakti EV Mobility Private Limited, incorporated on December 16, 2021, operates in the electric vehicle sector, focusing on the manufacturing of electric motors for two-wheelers, three-wheelers, four-wheelers, and special-purpose vehicles, along with EV chargers and controllers. As of March 31, 2025, the subsidiary reported a total asset size of ₹1,012.18 crore and a turnover of ₹37.27 crore.

Since Shakti EV Mobility is a wholly-owned subsidiary of Shakti Pumps (India) Limited, the transaction does not constitute a related-party transaction under applicable regulations, and therefore, the concept of arm’s length pricing is not applicable. No government or regulatory approvals were required for the investment, which was completed on the same day as the share subscription.

The primary objective of the investment is to support the initiation and expansion of the subsidiary’s operations. The capital infusion is expected to strengthen Shakti EV Mobility’s product development and manufacturing capabilities in the growing EV ecosystem.