Latest news with #ShaktiPumps(India)
Time of India
07-07-2025
- Business
- Time of India
Shakti Pumps raises Rs 292 cr via QIP
Solar pumps maker Shakti Pumps (India) Ltd on Monday said it has raised Rs 292.60 crore through Qualified Institutional Placement. The company issued 31.87 lakh shares to qualified institutional investors at Rs 918 per share, a 4.97 per cent discount to the Sebi floor price of Rs 965.96. The proceeds will be used to establish a high efficiency solar domestic content requirement (DCR) cell and solar PV modules manufacturing plant in Pithampur, Madhya Pradesh, through subsidiary Shakti Energy Solutions, with a production capacity of 2.20 GW, the company said in a statement. The in-house manufacturing of solar DCR cells will enhance backward integration and allow greater control over the entire value chain , thereby benefitting the company. " underscores the trust our investors have in our business model and growth strategy. We look to leverage these funds to advance our growth initiatives and enhance value for all stakeholders," Chairman Dinesh Patidar said. Live Events Madhya Pradesh-based Shakti Pumps manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors and other products. The company has two manufacturing facilities with a combined capacity of 5,00,000 pumps per year in India.
Business Upturn
12-06-2025
- Business
- Business Upturn
Shakti Pumps secures Rs 114.58 crore solar water pumping contract from Maharashtra's MEDA under PM-KUSUM scheme
By Aditya Bhagchandani Published on June 12, 2025, 10:09 IST Shakti Pumps (India) Ltd has received a significant order from the Maharashtra Energy Development Agency (MEDA) for the supply and installation of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS). The contract is valued at approximately Rs 114.58 crore, inclusive of GST, and falls under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. The scope of the order includes design, manufacturing, supply, transportation, installation, testing, and commissioning of the solar water pumps across various locations in Maharashtra. According to the official disclosure made under SEBI Regulation 30, the work is scheduled to be completed within 90 days from the issuance of the work order. The company has clarified that the order is domestic in nature, and neither the promoter group nor any related party has any interest in MEDA. This order is not categorized as a related party transaction. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
25-04-2025
- Business
- Business Upturn
Shakti Pumps receives Rs 122 crore work order under PM-KUSUM scheme from HAREDA
By Aman Shukla Published on April 25, 2025, 14:31 IST Shakti Pumps (India) Limited has secured a significant contract under the PM-KUSUM scheme's Component-B. The work order has been issued by the Haryana Renewable Energy Department (HAREDA) for the supply and installation of 3,511 solar water pumps. This initiative aligns with the government's push towards sustainable energy and the enhancement of agricultural infrastructure through solar solutions. The total value of the work order stands at ₹107.33 crores, exclusive of GST. Including GST of ₹14.81 crores, the cumulative order value amounts to ₹122.14 crores. Under the terms of the agreement, Shakti Pumps will undertake the design, manufacturing, supply, installation, testing, and commissioning of the solar water pumping systems. This order falls within the domestic category, with all activities being executed within India. The contract specifies a completion timeline of 120 days from the date of issuance of the work order, highlighting the project's time-bound nature. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
