Shakti Pumps (India) Limited has announced a strategic investment of ₹3.00 crores in its wholly owned subsidiary, Shakti Energy Solutions Limited (SESL), to establish a greenfield solar manufacturing facility. The investment, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, aims to expand the company's presence in the renewable energy sector.

Investment Details and Manufacturing Facility

The investment will fund the establishment of a high-efficiency Solar DCR cell and Solar PV modules manufacturing plant in Pithampur, Madhya Pradesh. The facility is designed with a substantial production capacity of 2.20 GW, positioning the company to capitalize on India's growing solar energy market.

Subsidiary Performance and Background

Shakti Energy Solutions Limited, incorporated on September 6, 2010, has demonstrated strong growth in recent years. The subsidiary currently manufactures solar structures and deals in solar rooftop solutions, with plans to expand into solar DCR cell and PV module manufacturing.

The subsidiary has shown consistent growth, with turnover increasing from ₹99.15 crores in FY 2023 to ₹216.53 crores in FY 2025, representing significant year-on-year expansion.

Strategic Rationale and Regulatory Compliance

The investment aligns with Shakti Pumps' strategy to diversify into renewable energy manufacturing, complementing its core pumping solutions business. As SESL is a wholly owned subsidiary, the transaction does not fall under related party transactions, and no governmental or regulatory approvals are required for the investment.

The company will issue equity shares to facilitate the investment, with the completion timeline indicated as same-day processing. This expansion into solar manufacturing represents a strategic move to capture opportunities in India's rapidly growing renewable energy sector.

Maithan Alloys Limited has successfully completed the acquisition of equity shares in Union Bank of India through stock exchange transactions on January 5, 2026. The company disclosed this acquisition under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the triggering of prescribed threshold limits.

Transaction Details

The acquisition involved 2,649,346 equity shares of Union Bank of India, representing a 0.03% shareholding in the public sector bank. The transaction was completed at 3:30 PM on January 5, 2026, with Maithan Alloys becoming aware of the detailed particulars at 12:35 PM on the same day.

Investment Rationale

Maithan Alloys stated that the shares were acquired as part of its investment portfolio with a view to realize long-term and short-term investment benefits. The company emphasized that it does not intend to acquire control, whether directly or indirectly, of Union Bank's management. The transaction was conducted at arm's length and does not constitute a related party transaction.

About Union Bank of India

Union Bank of India, the target entity, is a major public sector bank that was nationalized in 1969. Originally incorporated on November 11, 1919, the bank provides comprehensive banking products and services including savings and checking accounts, loans, insurance, and investment services.

Historical Performance

Union Bank of India has demonstrated consistent growth over the past three years:

Regulatory Compliance

The acquisition required no governmental or regulatory approvals beyond standard compliance requirements. Maithan Alloys confirmed that neither the promoter, promoter group, nor group companies have any interest in Union Bank of India. The disclosure was made in accordance with SEBI circular dated November 11, 2024, regarding acquisition of equity shares of listed entities through stock exchanges.

Union Bank of India operates primarily in India while maintaining presence in UAE and Australia, positioning it as a significant player in the Indian banking sector.