Shakti Pumps, leading manufacturer of 100% stainless steel submersible pumps in India with exports to over 100 countries, today announced that the equity shares of the company shall be directly listed and admitted to dealings on the National Stock Exchange (NSE) with effect from January 29, 2015 whereas earlier it was trading through Madhya Pradesh Stock Exchange (MPSE).

The company's equity shares were previously listed on the MPSE and their trading was under ‘Permitted To Trade (MPSE)' category on NSE. However MPSE faced de-recognition by SEBI last year, post which the company made an application to the NSE to be listed directly.

NSE has approved the company's application to be listed and admitted to dealings of 1,59,93,793 equity shares of Rs 10 each going forward.

Commenting on the announcement, Dinesh Patidar, chairman and managing director, Shakti Pumps said, ''This development is a new benchmark for Shakti Pumps as we have always thrived for excellence and creating greater value for our investors.''

Shares of the company gained Rs 1.80, or 0.79%, to trade at Rs 228.60 at the BSE (9.41 a.m., Thursday).