Exide Industries Invests ₹200 Cr in Lithium-ion Cell Subsidiary

Exide Industries Limited has invested ₹199.99 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), on a rights basis. This investment is part of a larger approved infusion of up to ₹1400 crore to establish a greenfield multi-gigawatt Lithium-ion cell manufacturing facility in India. The current investment brings Exide Industries' total investment in EESL to ₹5,102.23 crore. EESL is focused on manufacturing lithium-ion battery cells, modules, and packs for the electric vehicle and stationary applications market. The transaction is considered an arm's length deal, and Exide Industries' shareholding in EESL remains at 100%.