Exide Industries total EESL investment hits ₹5,352.23 crore
Key Highlights
Exide Industries has invested ₹150 crore in its subsidiary Exide Energy Solutions to support the development of a new lithium-ion battery plant.
Exide Industries invested ₹150 crore into its wholly owned subsidiary, Exide Energy Solutions, through a subscription of equity share capital. This transaction, conducted on a rights basis, brings the company’s total investment in the subsidiary to ₹5,352.23 crore. The firm maintains its full ownership stake in the entity following this latest capital infusion.
The company stated that this equity investment is intended to support various funding requirements for its greenfield manufacturing plant located in Bengaluru. This facility focuses on the production and sale of lithium-ion battery cells, modules, and packs. Exide Industries operates as a manufacturer and distributor of lead-acid batteries and storage solutions for various energy applications globally.
Following the completion of this rights issue, the shareholding of Exide Industries in Exide Energy Solutions remains unchanged at 100%. The capital injection serves to provide the necessary financial resources for the ongoing development of the Bengaluru site. No changes to the ownership structure were reported as a result of this specific subscription.
Based on company and agency reports. For information only; not investment advice.