Exide Industries Limited has announced an investment of ₹74.99 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL). This investment, made through the subscription of equity shares on a rights basis, is part of Exide’s ongoing strategy to expand its presence in India’s electric vehicle (EV) and energy storage sectors.

EESL, incorporated on March 24, 2022, focuses on manufacturing and selling lithium-ion battery cells, modules, and packs. These products serve India’s growing EV market and other stationary applications. With this latest investment, Exide Industries’ total stake in EESL has reached ₹2,652.24 crore.

The transaction, carried out at arm’s length, does not change Exide Industries’ ownership percentage in EESL. The additional equity shares were issued at a premium of ₹26 per share, with Exide subscribing to 2,08,33,333 equity shares in this round.

EESL reported a turnover of ₹239.14 crore for the fiscal year ending March 31, 2024, and a net worth of ₹1,981.56 crore. The company focuses on advanced battery chemistry, producing cylindrical, pouch, and prismatic batteries, which are crucial for energy storage solutions in the country.

Exide Industries’ investment aligns with its broader strategy to strengthen its position in the energy storage market. The demand for EVs and renewable energy storage in India continues to grow, offering potential opportunities for EESL’s products and technologies.

Earlier Investments by Exide Industries in EESL