Key Transaction Details
The company has invested ₹5,00,00,000 (Rupees Five Crores Only) in its wholly-owned subsidiary Shakti EV Mobility Private Limited by subscribing to 50,00,000 (Fifty Lakh) equity shares of face value ₹10 each.
Consolidated Investment Position
Following this investment, the consolidated investment in Shakti EV Mobility Private Limited stands at ₹70,00,00,000 (Rupees Seventy Crores Only).
Subsidiary Background
Shakti EV Mobility Private Limited was incorporated on 16th December 2021 and is engaged in the business of manufacturing various types of electric vehicle motors and chargers controllers. The company has presence in India.
Financial Information of Subsidiary
Total Asset Size as on 31st March 2026: ₹12,857.28 Lacs
Turnover History:
- FY 2026: ₹2,425.41 Lacs
- FY 2025: ₹372.73 Lacs
- FY 2024: ₹430.09 Lacs
Transaction Structure
- Consideration: Cash investment by subscribing to equity shares
- Cost of acquisition: ₹5.00 Crores
- Time period for completion: Same day
- No government or regulatory approvals required
Corporate Relationship
Shakti EV Mobility is promoted by Shakti Pumps (India) Limited and is a wholly-owned subsidiary. The acquisition does not fall under Related Party Transaction category, and arm's length basis is not applicable.
Purpose of Investment
To initiate and expand the business of the wholly-owned subsidiary in electric vehicle motor and charger manufacturing.
Shareholding Impact
The equity shares will be issued time to time as per the agreement. Since it's a wholly-owned subsidiary, the percentage shareholding remains 100%.
Business Scope of Subsidiary
Manufacturing of electric vehicle motors for Two Wheeler/Three Wheeler/Four Wheeler/Special purpose Electric Vehicle motor & for other purpose, and manufacturing of chargers for electric vehicles.