Subhkam Ventures ups its stake in Shakti Pumps

MUMBAI: Private equity firm, Subhkam Ventures, on Thursday said it has increased its stake in steel submersible pump manufacturer, Shakti Pumps, from three per cent to 12.05 per cent.

The mode of increase in holding is by way conversion of warrants allotted to Subhkam Ventures on preferential basis, a press release issued here said.

"Shakti Pumps has proved its credentials with its quality products. Its energy-efficient product line saves 30 per cent more energy than other competing products," Subhkam's Director and CEO, Manu Punnoose, said.

Shakti Pump's sales predominantly comes from exports and is competing with the world's largest player Grundfos. The company has two plants in Indore, he said.

Subhkam Ventures has built up a private equity portfolio of around 24 companies over a period of time with focus on mid-sized companies in sectors like infrastructure, telecom, healthcare, financial services, aerospace, tourism and environment, amongst others.