Exide Industries Limited invested Rs 99.99 crore on 29 September in its wholly owned subsidiary Exide Energy Solutions Limited (EESL) by subscribing to equity shares on a rights basis, the company told the stock exchanges under Regulation 30 of the SEBI Listing Regulations.
The total investment by Exide in EESL now stands at Rs 5,202.23 crore. Exide's shareholding in EESL is unchanged at 100%.
EESL allotted 2,85,71,428 equity shares of Rs 10 each at a premium of Rs 25 per share to Exide, aggregating ₹99.99 crore. The consideration was paid in cash. The shares were allotted on 29 September 2026.
The investment is intended to meet EESL's funding requirements for its greenfield plant in Bengaluru, which will manufacture and sell lithium-ion battery cells, modules and packs. No governmental or regulatory approvals were required.
The filing states the transaction falls within related party transactions because EESL is a wholly owned subsidiary of Exide, and that it was done at arm's length. It states that the promoter, promoter group and group companies have no interest in the transaction, other than as disclosed.
EESL was incorporated on 24 March 2022. It manufactures and sells lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications. Its paid-up equity share capital is Rs 1,618.50 crore.
For the year ended 31 March 2026, EESL reported turnover of Rs 157.56 crore and a loss after tax of Rs 248.16 crore. Its net worth on that date was Rs 3,991.06 crore.
EESL's turnover was Rs 116.89 crore in FY 2024-25 and Rs 239.14 crore in FY 2023-24, figures given subsequent to the merger of Exide Energy Private Limited with EESL.
The filing follows Exide's earlier disclosures on the investment dated 30 January, 15 July and 18 August 2026.