Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) has invested an additional 60 million Indian rupees in its wholly-owned subsidiary Shakti EV Mobility, according to a Thursday filing with the Indian stock exchanges.
The company has subscribed to 6 million equity shares of face value of 10 rupees each to expand its operations.
With this, the company's consolidated investment in Shakti EV Mobility has increased to 450 million rupees.
Shakti EV Mobility is engaged in the business of manufacturing various types of electric vehicle motors and charger controllers.
Shares of the company were down 5% in recent trade.
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