Shakti Pumps climbs 5% to hit all-time high after board approves ₹400 crore QIP fundraiser

“Raising of funds for an aggregate amount of up to and not exceeding ₹400 Crores, in one or more tranches and/or one or more issuances, by way of qualified institutions placement(s),” the company said in a regulatory filing dated January 7.

The board’s treasury committee was authorised to decide the terms and conditions of the proposed QIP fundraiser.

₹3.8 crore investment in subsidiary

The company hit its previous 52-week high of ₹1231.8 on Friday, January 3, 2025, after it announced that it invested ₹3.8 crore in its wholly owned subsidiary, Shakti Energy Solutions Private Limited by subscribing to 3.8 crore shares. Each share has a face value of ₹1.

The object of the investment was to expand the business of Shakti Energy Solution.

Incorporated in 2010, Shakti Energy is engaged in manufacturing solar structures, polyhouse and solar rooftops, among others.

The wholly owned subsidiary has seen a 3.34% slump in terms of turnover from ₹154.63 crore in FY22 to ₹s. 139.59 crore in FY24.

Past performance

On Monday, the stock closed at ₹1,219.90 on the NSE.

Shakti Pumps gained 26.86% over the past week and 69.65% in the last week on the National Stock Exchange (NSE).

Over the last six months, the company climbed 79.17%

Almost a year ago on January 8, 2024, the scrip was trading at its 52-week low of ₹168.61. Since then, the stock has zoomed at a turbocharged pace and gained 624.05%.

The company has a total market capitalisation of ₹15,397.17 crore as of Tuesday, according to the NSE.

About Shakti Pumps

Shakti Pumps is mainly engaged in manufacturing pumps and motors of various kinds. Its products include Submersible pumps, Solar Pumps and Vertical Multistage Centrifugal Pumps, among others. It also offers advanced water-pumping solutions for applications like irrigation, horticulture, domestic water supply, commercial and industrial applications.