Shakti Pumps (India) has announced a significant investment of ₹10 crore in its wholly owned subsidiary, Shakti EV Mobility Private Limited. The investment involves subscribing to one crore equity shares at a face value of ₹10 each, bringing the total consolidated investment in the subsidiary to ₹65 crore.
Shakti EV Mobility, incorporated on 16th December 2021, is engaged in the manufacturing of electric vehicle motors and chargers. As of 31st March 2025, the company reported a total asset size of ₹10,121.83 lakh. The subsidiary focuses on producing motors for various types of electric vehicles, including two-wheelers, three-wheelers, four-wheelers, and special-purpose vehicles, as well as manufacturing chargers for electric vehicles.
The acquisition does not fall under related party transactions as Shakti EV Mobility is a wholly owned subsidiary of Shakti Pumps. Consequently, the transaction is not subject to arm’s length requirements. The investment aims to initiate and expand the business operations of Shakti EV Mobility.
No governmental or regulatory approvals were required for this acquisition, and the transaction was completed on the same day. The investment was made in cash by subscribing to the equity shares of Shakti EV Mobility.
Shakti EV Mobility has shown a turnover of ₹372.73 lakh for the financial year 2025 and ₹430.09 lakh for the financial year 2024. The company continues to have a significant presence in India, focusing on the growing electric vehicle market.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).