Exide Industries Infuses ₹100 Crore into Subsidiary Exide Energy Solutions

21 Aug 2025 , 11:49 AM

Exide Industries Ltd on Wednesday (August 20) said it has invested ₹100 crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue. The investment was made via subscription to 2.5 crore equity shares of ₹10 each. This was issued at a premium of ₹30 per share. Following this infusion, Exide’s total investment in EESL has risen to ₹3,802.23 crore. Its shareholding remains unchanged at 100%.

EESL was incorporated in March 2022. It is engaged in the manufacture and sale of lithium-ion battery cells, modules, and packs. It caters to India’s EV sector and stationary energy applications. As of March 31, 2025, EESL had a paid-up capital of ₹1,254.21 crore and a net worth of ₹2,738.06 crore. For FY25, it reported turnover of ₹116.89 crore and a net loss of ₹209.12 crore.

Exide said the fresh capital will support EESL’s ongoing greenfield project in Bengaluru, which aims to set up large-scale lithium-ion cell manufacturing facilities, as well as fund broader expansion needs. The transaction was completed on August 20, 2025, on an arm’s-length basis, with no impact on Exide’s ownership structure and no additional regulatory approvals required.

In earlier years, EESL recorded turnover of ₹239.14 crore in FY24 and ₹112.05 crore in FY23, reflecting operations after the merger of Exide Energy Pvt into the entity. The subsidiary focuses exclusively on the Indian market, with product lines spanning cylindrical, pouch, and prismatic battery cells, along with modules and packs.

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