Shakti Pumps (India) added 3.09% to Rs 1,251 after the company's board approved raising of funds for up to Rs 400 crore, in one or more tranches and/or one or more issuances, by way of qualified institutions placement (QIP).
However, the proposal is subject to the receipt of necessary approvals, including the approval of the members of the company and such other regulatory and statutory approvals as may be required.Further, the board has also authorized the treasury committee of the board to decide the terms and conditions of the proposed fund raise.
Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.
The companys consolidated net profit surged to Rs 101.42 crore in Q2 FY25 as compared with Rs 5.84 crore in Q2 FY24. Revenue from operations spurted 315% YoY to Rs 634.59 crore during the September 2024 quarter.
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