Shakti Pump raises Rs 200 crore through qualified institutional placement
[ad_1]
pattern photo
official website
The solar pump manufacturer said in a statement that the QIP issue received strong interest from qualified domestic institutional investors. It was fully subscribed by two big mutual funds – LIC Mutual Fund and SBI Mutual Fund.
New Delhi. Shakti Pump (India) on Friday said it has raised Rs 200 crore through qualified institutional placement (QIP). The solar pump manufacturer said in a statement that the QIP issue received strong interest from qualified domestic institutional investors. It was fully subscribed by two big mutual funds – LIC Mutual Fund and SBI Mutual Fund.
Company Chairman Dinesh Patidar said, “Shakti Pump (India) has announced the completion of QIP of Rs 200 crore. With this, our book is well positioned and will provide us with an opportunity to improve our market presence and deliver consistently strong results in the times to come,” he said, adding that as of December 31, the company has a number of targets to execute over the next two years. There was an order book of Rs 2,050 crore.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
