<h1>Solar pumps manufacturer raises Rs 292.60 crore through QIP for 2.20 GW solar cell manufacturing plant</h1> A solar pumps manufacturer raised Rs 292.60 crore through Qualified Institutional Placement by issuing 31.87 lakh shares at Rs 918 per share, representing a 4.97% discount to the regulatory floor price. The funds will establish a 2.20 GW capacity solar cell and module manufacturing plant in Madhya Pradesh through a subsidiary. The company aims to enhance backward integration and control over its value chain. The manufacturer operates two facilities with combined capacity of 5 lakh pumps annually and produces various pump-related products including solar pumps and submersible pumps.