loading
loading
Exide Industries invests ₹150 crore in subsidiary Exide Energy Solutions - Published OnOct 27, 2026 | 22:22 IST - Last Updated OnOct 27, 2026 | 22:22 IST The fresh capital infusion will ramp up lithium-ion battery cell and module production at the subsidiary's greenfield Bengaluru plant, scaling up manufacturing capacity for electric vehicles. Discover how management plans to offset ongoing bottom-line losses as EV adoption accelerates. Exide Industries Limited has invested nearly ₹150 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue, taking its total investment in the subsidiary to ₹5,352.23 crore. The company invested ₹149.99 crore on October 27, 2026, by subscribing to 4.29 crore equity shares of EESL on a rights basis. The shares were allotted on the same day, according to an exchange filing. The latest investment is intended to meet EESL’s funding requirements for its greenfield plant in Bengaluru, which will manufacture and sell lithium-ion battery cells, modules and packs for electric vehicles and stationary applications. Following the investment, Exide Industries’ shareholding in EESL remains unchanged at 100%. The investment includes the amount invested in the erstwhile merged subsidiary, Exide Energy Private Limited. EESL, incorporated on March 24, 2022, is engaged in manufacturing and selling lithium-ion battery cells, modules and packs. Its operations also cover battery cells of different chemistries and form factors, including cylindrical, pouch and prismatic cells. As of March 31, 2026, EESL had a paid-up equity share capital of ₹1,661.36 crore and a net worth of ₹3,991.06 crore. Its turnover stood at ₹157.56 crore in FY26, while it reported a loss after tax of ₹248.16 crore. EESL’s turnover stood at ₹116.89 crore in FY25 and ₹239.14 crore in FY24, according to the filing. Exide Industries said the transaction constitutes a related-party transaction and was conducted at arm’s length. No governmental or regulatory approvals were required for the investment. The shares were issued at ₹35 each, comprising a face value of ₹10 and a premium of ₹25 per share. Exide Industries shares closed at ₹336.10 on October 27, down 0.24%, or ₹0.80. Also Read: Sigma Advanced Systems bags ₹973 crore order for 155 mm artillery ammunition components
document fetched 2026-10-28 02:53 · canonical https://cnbctv18.com/business/companies/exide-industries-invests-rs150-crore-in-subsidiary-exide-energy-solutions-20020732.htm