Exide Industries Limited (EIL) revealed on January 15, 2025, that it has invested ₹149.99 crore into its fully owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This new investment brings Exide’s total contribution to EESL to ₹3,302.23 crore. The funds were raised by subscribing to 4.17 million equity shares of EESL at ₹10 per share, plus a premium of ₹26 per share.
EESL, founded in March 2022, specializes in the production and sale of lithium-ion battery cells, modules, and packs for electric vehicles (EVs) and stationary energy storage solutions in India. This funding will support the construction of EESL’s greenfield plant in Bengaluru, which will focus on advanced battery cell production.
The investment does not alter Exide’s full ownership of EESL, and the transaction was carried out on an arm’s length basis, with no regulatory approvals or related party transactions required. This follows a similar ₹99.99 crore investment by Exide in November, which also resulted in no change to Exide’s ownership stake, maintaining its 100% control over EESL. For FY 2023-24, EESL reported a turnover of ₹239.14 crore after merging with Exide Energy Private Limited (EEPL) and incurred a net loss of ₹149.45 crore during the same period.
Exide Industries Limited is a leading Indian multinational company specializing in the manufacture and storage of energy solutions, with a legacy spanning over seven decades. Headquartered in Kolkata, it is one of India’s largest producers of lead-acid batteries for automotive, industrial, and submarine applications, as well as a significant player in lithium-ion battery technology.
Exide’s products are widely used in vehicles, power backup systems, renewable energy solutions, and other critical sectors. The company is known for its robust manufacturing infrastructure, cutting-edge research and development facilities, and a vast distribution network across India and global markets. Committed to sustainability and innovation, Exide is actively investing in green energy technologies, including advanced battery solutions for electric vehicles, to align with the evolving needs of a cleaner and energy-efficient future.
