Exide invests INR 65 crore in subsidiary for EV battery plant

Exide Industries Limited (EIL) has invested INR 65 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This investment brings EIL's total investment in EESL to INR 3,947.23 crore, maintaining EIL's 100% shareholding.

EESL, incorporated on March 24, 2022, is establishing a greenfield plant in Bengaluru to manufacture lithium-ion battery cells, modules, and packs for India’s electric vehicle market and stationary applications. The capital infusion will fund this project and meet other funding requirements.

As of March 31, 2025, EESL reported a paid-up equity share capital of INR 1,290.46 crore, a net worth of INR 2,738.06 crore, and a turnover of INR 116.89 crore, with a loss after tax of INR 209.12 crore for the year. This transaction was completed on October 28, 2025.