Mumbai, Feb. 17 -- Shakti EV Mobility, incorporated on 16 December 2021, is engaged in the manufacturing of electric vehicle (EV) motors for two-wheelers, three-wheelers, four-wheelers, and special-purpose electric vehicles, along with the production of chargers for EVs. The company is headquartered in India, with a reported turnover of Rs 4.30 crore as of 31 March 2024.

The primary purpose of the investment is to support the initiation and expansion of Shakti EV Mobility's business operations. The investment will be made through the acquisition of equity shares in the subsidiary.

Notably, no government or regulatory approvals are required for the investment, as Shakti EV Mobility is a wholly owned subsidiary of Shakti Pumps (India). Th...