Shakti Pumps Limited has invested Rs 390 million in its wholly owned subsidiary, Shakti Electric Vehicle (EV) Mobility Private Limited, by subscribing to 4,000,000 equity shares of face value Rs 10 each.
Shakti EV Mobility will focus on manufacturing, processing, trading, and distribution of EV motors and charger controllers. The subsidiary aims to develop and expand its business in the EV mobility sector.
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