Shakti Pumps (India) shares witnessed a 4% jump after the company announced its plan to raise up to Rs. 400 crores. As of 11:50 AM, the shares were trading 2.47% higher at Rs 1,250.00.
The Board of Directors approved the fundraise through a Qualified Institutions Placement (QIP) on January 7, 2025. The funds will bolster the company’s financial position and support its growth strategy.
Key Highlights:
- Amount to be Raised: Up to Rs. 400 Crores
- Method: Qualified Institutions Placement (QIP)
- Approvals Needed: Subject to member consent and regulatory clearances
- Board Authorization: Treasury Committee empowered to set terms
This strategic move underscores Shakti Pumps’ commitment to growth and financial strength. A postal ballot notice for the proposed issuance was also approved.
Shakti Pumps shares opened at ₹1,232.00, reaching a high of ₹1,270.00 and a low of ₹1,200.00 during the session. The stock hit its 52-week high of ₹1,270.00, with its 52-week low recorded at ₹168.61.
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