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Shakti Pumps (India) has successfully concluded its qualified institutions placement (QIP), raising approximately Rs 292.60 crore by allotting over 31.87 lakh equity shares. The company’s treasury committee approved the issue on 5 July 2025. Each share carries a face value of Rs 10 and was issued at Rs 918. This price represents a discount of nearly 5% to the floor price of Rs 965.96.
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Shakti Pumps (India) has successfully closed its Qualified Institutions Placement (QIP) issue to institutional investors, raising Rs 292.60 crore.
The QIP issue received an overwhelming response from existing and new prominent institutional investors, demonstrating their confidence in the company's future growth prospects and the overall performance. The proceeds from the QIP will be utilized for establishing a greenfield high efficiency solar DCR cell and solar PV modules manufacturing plant in Pithampur, Madhya Pradesh, through its subsidiary, Shakti Energy Solutions, with a production capacity of 2.20 GW. 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.
The QIP issue was priced at Rs 918.00 per share, a 4.97% discount to the Sebi floor price of Rs 965.96, and the proceeds will further strengthen the company's financial position, enabling it to pursue its strategic objectives.
Shakti Pumps (India) has allotted 31,87,365 equity shares of face value of Rs 10 each to eligible qualified institutional buyers at the issue price of Rs. 918/] per equity share (including a premium of Rs. 908/] per equity share) which is at a discount of 4.97% to the floor price of Rs. 965.96/- per equity share, aggregating to approximately Rs. 292.6 crore, pursuant to the Issue in accordance with the SEBI ICDR Regulations.
The issue opened on 02 July 2025 and closed on 04 July 2025.
With this allotment, the paid up equity share capital has increased from Rs. 120,21,06,000/- comprising of 12,02,10,600 equity shares to Rs. 123,39,79,650/- comprising of 12,33,97,965 equity shares.
The QIP opened on July 2 and closed on July 4. Following this allotment, Shakti Pumps’ paid-up equity share capital has increased from Rs 120.21 crore, representing 12.02 crore shares, to Rs 123.39 crore, reflecting a new total of 12.33 crore shares.
Among the key institutional investors who acquired more than 5% of the shares offered, PineBridge Global Funds, through its PineBridge India Equity Fund, led the pack with an allotment of 10.89 lakh shares, accounting for 34.18% of the issue. Bank of India Small Cap Fund followed with a subscription of 2.83 lakh shares, representing 8.89%. LIC Mutual Fund also featured prominently, with its Infrastructure Fund taking up 2.17 lakh shares (6.84%), while both its Large & Mid Cap Fund and Manufacturing Fund secured 1.63 lakh shares each, contributing 5.13% each to the total issue.
Shakti Pumps (India) manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump-motors, and other products.
The company’s consolidated net profit jumped 22.9% to Rs 110.23 crore while revenue from operations rose 9.2% to Rs 665.32 crore in Q4 March 2025 over Q4 March 2024.
Shares of Shakti Pumps (India) fell 0.68% to Rs 936.55 on Friday, 4 July 2025.
The floor price of Rs 965.96 is at a premium of 2.32% to the scrip’s previous closing price of Rs 944.05 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined in consultation with the book running lead managers appointed for the issue.
Shakti Pumps (India) is engaged in the manufacturing of pumps, motors & their spare parts. The core products of the company are engineered pumps, industrial pumps, solar pumps, etc.
The company’s consolidated net profit jumped 22.9% to Rs 110.23 crore in Q4 FY25 as against Rs 89.67 crore posted in Q4 FY24. Revenue from operations rose 9.2% YoY to Rs 665.32 crore in the quarter ended 31 March 2025.
The scrip rose 0.06% to currently trade at Rs 944.60 on the BSE.