Exide Industries Limited, a manufacturer of storage batteries, has invested INR 1 billion in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. With this infusion, Exide’s total investment in EESL now stands at INR 37.02 billion. The transaction does not affect Exide’s 100 percent ownership of the subsidiary.
EESL, incorporated in March 2022, is engaged in the manufacture and sale of lithium-ion battery cells, modules, and packs for electric vehicle and stationary applications in India. The capital will support EESL’s ongoing greenfield project in Bengaluru, where it is setting up a lithium-ion cell manufacturing facility.
As part of the transaction, EESL allotted 25 million equity shares of INR 10 each at a premium of INR 30 per share to Exide Industries on 22 July 2025. The INR 1 billion consideration was paid in cash. According to the company, the transaction was conducted on standard commercial terms.
As of 31 March 2025, EESL had a paid-up equity capital of INR 12.29 billion and a net worth of INR 27.38 billion. For the financial year 2024–25, the company reported a turnover of INR 1.17 billion and a net loss of INR 2.09 billion.
Exide Industries, headquartered in Kolkata, manufactures storage batteries and allied products. Its foray into lithium-ion battery production through EESL reflects the company’s strategic shift towards advanced energy storage technologies for mobility and industrial use.
