Shakti Pumps details Q3 2025 fund utilization for QIPs

Shakti Pumps (India) Limited announced the release of its Monitoring Agency Report for the quarter ended September 30, 2025, detailing the utilization of funds from two Qualified Institutions Placements (QIPs). The first QIP, with an issue size of INR 2,000.00 Mn, took place from March 19-22, 2024, issuing 1,654,944 equity shares at INR 1,208.50 each. As of September 30, 2025, INR 336.54 Mn was utilized for capacity expansion and INR 28.79 Mn for QIP-related issue expenses, leaving INR 1,163.46 Mn unutilized from the project-specific allocation.

The second QIP, totaling INR 2,926.00 Mn, was conducted from July 2-4, 2025, offering 3,187,365 equity shares at INR 918.00 per share. For this QIP, INR 115.33 Mn was utilized for investment in Shakti Energy Solutions Limited for a solar project, and INR 42.97 Mn for QIP-related issue expenses, with INR 2,134.67 Mn and INR 2.04 Mn unutilized, respectively, for these specific objectives.

The monitoring agency, India Ratings & Research Private Limited, reported no deviations from the stated objects for either QIP and confirmed that all utilization aligns with disclosures in the respective Offer Documents. Unutilized funds from both QIPs have been deposited in fixed deposits across various banks, earning interest.