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Updated: July 07, 2025 15:01
Shakti Pumps (India) Ltd has successfully raised ₹2.93 billion through a Qualified Institutional Placement (QIP), earmarking the proceeds to fund its upcoming solar cell and photovoltaic (PV) module manufacturing facility in Pithampur, Madhya Pradesh. The move marks a strategic leap into backward integration and renewable energy manufacturing.
Key Highlights and Strategic Developments:
The QIP was priced at ₹915 per share and attracted strong interest from domestic and global institutional investors, including ESG-focused funds.
Funds will be deployed by Shakti’s wholly owned subsidiary, Shakti Energy Solutions Ltd, which has secured 113 acres of land in Sector-7, Smart Industrial Township, Pithampur.
The facility will manufacture solar cells and PV modules using wafer-based technology, enabling Shakti to reduce import dependency and enhance supply chain resilience.
This expansion aligns with India’s Production Linked Incentive (PLI) scheme for solar manufacturing and supports the company’s vision to become a vertically integrated clean energy player.
Shakti Pumps reported a 130% YoY jump in net profit to ₹104 crore in Q3 FY25, with revenue rising 31% to ₹648.8 crore and EBITDA margin improving to 23.8%.
The company aims to scale exports to Africa, Southeast Asia, and Latin America, leveraging its solar pump expertise and new manufacturing capabilities.
Conclusion: With this QIP-backed investment, Shakti Pumps is not just expanding capacity—it is redefining its role in India’s green energy transition. The Pithampur plant will serve as a cornerstone for its integrated solar ecosystem and global growth strategy.
Sources: India Infoline, CNBC-TV18, Machinist.in, Shakti Pumps Investor Filings, BSE Announcements
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