Exide Industries Invests ₹150 Cr in Wholly Owned Subsidiary

Exide Industries Limited has invested ₹149.99 crore (₹149,99,99,970) in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), on a rights basis. This brings Exide Industries' total investment in EESL to ₹5,352.23 crore. EESL is engaged in manufacturing lithium-ion battery cells, modules, and packs for India's electric vehicle and stationary applications. The investment is intended to fund EESL's greenfield plant in Bengaluru. Exide Industries' shareholding in EESL remains at 100% post-investment. The transaction is considered a related party transaction but is conducted at arm's length.