Exide Industries Limited (EIL) has committed ₹100 crore to its fully owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This brings EIL’s total equity stake in EESL to ₹3,702.23 crore, maintaining Exide’s 100% ownership of the subsidiary.
The investment was made through the purchase of 2.5 crore equity shares at ₹10 each, with an additional premium of ₹30 per share. According to the company’s filing with Indian stock exchanges, the transaction was carried out at arm’s length and is categorized as a related-party deal.
Founded in March 2022, EESL is leading Exide’s expansion into the lithium-ion battery market. The company produces and sells battery cells, modules, and packs for electric vehicles (EVs) and stationary storage systems. This latest capital infusion will support the development of a greenfield manufacturing facility in Bengaluru, an essential step in Exide’s efforts to localize and scale up battery cell production within India.
For FY 2024-25, EESL reported a turnover of ₹116.89 crore and a net loss of ₹209.12 crore. The company’s paid-up capital stands at ₹1,229.21 crore, with a net worth of ₹2,738.06 crore as of March 31, 2025. This latest investment also includes previous funding into the merged entity Exide Energy Private Limited (EEPL).
Exide’s foray into lithium-ion battery technology represents a significant pivot from its traditional lead-acid battery operations. The new Bengaluru plant is poised to play a crucial role in strengthening India’s domestic EV supply chain and reducing reliance on imported battery cells. 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.
