Exide Energy Solutions, a subsidiary of Exide Industries Ltd, has announced plans to acquire a 26% stake in Indian Solar Power Development Ltd, a solar energy company. The acquisition aims to strengthen Exide’s presence in the renewable energy sector. Indian Solar Power Development Ltd has a portfolio of solar power projects across India.
However, Exide Industries’ shares dipped 15% to ₹174.60 on the BSE, following the announcement. Analysts attribute the decline to concerns over the company’s diversification into the solar energy sector and potential competition from established players.
“It’s foray into solar energy is a strategic move, but investors are cautious about the company’s ability to compete with established players,” said Amit Khanna, research analyst at ICICI Securities. Despite the short-term decline, Exide’s long-term prospects remain positive, driven by growing demand for renewable energy in India.
The acquisition is subject to regulatory approvals and is expected to be completed within the next few quarters. It’ management remains optimistic about the deal’s potential to enhance its revenue streams and contribute to India’s renewable energy goals.
The company’s focus on diversification and sustainable energy solutions is expected to yield benefits in the long run. The company, a subsidiary of Exide Industries, is a leading provider of advanced energy storage solutions, focusing on both automotive and industrial applications.
Leveraging decades of expertise in battery technology, the company specializes in the development and manufacturing of high-performance batteries, including lithium-ion and lead-acid variants, aimed at supporting electric vehicles (EVs), renewable energy systems, and other energy storage needs.
The company is dedicated to driving innovation in the energy sector, offering sustainable, efficient, and reliable power solutions. With a strong commitment to green energy, Exide Energy Solutions is playing a crucial role in India’s transition to cleaner energy and mobility solutions.
