Shakti Pumps (India) Limited has successfully concluded its Qualified Institutions Placement (QIP), raising ₹292.60 crore from domestic and global institutional investors. The offering drew strong interest from both current and new investors, reflecting growing confidence in the company’s growth roadmap.
The capital raised will be directed towards establishing a new manufacturing facility in Pithampur, Madhya Pradesh, through its subsidiary, Shakti Energy Solutions Limited. The upcoming unit will produce high-efficiency solar DCR cells and PV modules with a targeted capacity of 2.20 GW. This backward integration will enhance operational efficiency and supply chain control for Shakti’s solar product portfolio.
The issue was priced at ₹918 per share, offering a 4.97% discount on the SEBI-determined floor price of ₹965.96. The fund infusion will also bolster the company’s balance sheet and support ongoing expansion efforts.
Commenting on the development, Dinesh Patidar, Chairman of Shakti Pumps, stated, “We are extremely encouraged by the overwhelming investor support. This milestone confirms our strategic direction and will help us scale up production while delivering sustainable energy solutions. We sincerely thank our investors for their belief in our vision and commitment.”
Founded in 1982 and publicly listed since 1995, Shakti Pumps is a leading Indian manufacturer specializing in solar pumps, stainless steel submersible systems, and energy-efficient water pumping technologies. It remains the only Indian company to fully manufacture all major solar pump components in-house, including VFDs, motors, structures, and inverters.
With two advanced production units located in Pithampur, Madhya Pradesh, the company has an annual manufacturing capacity of 5 lakh pumps and motors. Shakti Pumps is also a pioneer in delivering solar-powered irrigation solutions, helping India’s rural and agricultural sectors reduce dependence on conventional power sources.
Known for quality, durability, and innovation, Shakti Pumps exports to over 100 countries and holds the distinction of being India’s first 5-star rated pump maker. The firm continues to play a vital role in supporting India’s clean energy mission.
