Exide Industries Limited has made an additional investment of ₹299.99 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. The fresh capital infusion, made on April 17, 2025, takes the company’s total investment in EESL to ₹3,602.23 crore. The investment was done at a price of ₹36 per share, comprising a face value of ₹10 and a premium of ₹26.
Despite the new investment, Exide’s shareholding in EESL remains unchanged at 100%.
EESL, incorporated in March 2022, is engaged in the manufacturing and sale of lithium-ion battery cells, modules, and battery packs primarily targeted at India’s electric vehicle (EV) market and stationary energy storage applications. It is currently setting up a greenfield manufacturing plant in Bengaluru to support this objective.
As of March 31, 2024, EESL reported:
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Turnover: ₹239.14 crore
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Net worth: ₹1,981.56 crore
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Loss after tax: ₹149.45 crore
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Paid-up equity capital: ₹1,204.21 crore
The equity investment will be used to meet funding requirements related to the new plant and overall business expansion. The company confirmed that the transaction qualifies as a related party transaction but has been conducted at arm’s length.
No regulatory approvals were required for the allotment, and the shares were issued on April 17, 2025.
