Exide Industries Invests ₹50 Crore in Wholly-Owned Subsidiary for Lithium-Ion Battery Manufacturing

Exide Industries Limited has made an additional equity investment of ₹50 crore in its wholly-owned subsidiary, Exide Energy Solutions Limited, through subscription of equity shares on a rights basis. The investment maintains the company's 100 percent shareholding in the subsidiary, with no change in ownership structure.

Exide Energy Solutions Limited allotted 1.25 crore equity shares at ₹10 per share with a premium of ₹30 per share, aggregating to ₹50 crore. With this infusion, the cumulative investment by Exide Industries in EESL stands at ₹4,252.23 crore, including investments made in the erstwhile merged subsidiary Exide Energy Private Limited.

The subsidiary, incorporated on March 24, 2022, is engaged in manufacturing and selling lithium-ion battery cells, modules, and packs for India's electric vehicle market and stationary applications. EESL currently operates with a paid-up equity share capital of ₹1,366.71 crore and reported a net worth of ₹2,738.06 crore as of March 31, 2025.

The company's financial performance for fiscal year 2024-25 showed revenue of ₹116.89 crore, while recording a loss after tax of ₹209.12 crore. Historical revenue figures indicate ₹239.14 crore in FY2023-24 and ₹112.05 crore in FY2022-23, following the merger with Exide Energy Private Limited.

The fresh equity investment will fund EESL's greenfield manufacturing plant in Bengaluru and meet various funding requirements for establishing production capabilities. The facility will manufacture battery cells of advanced chemistry and form factors, including cylindrical, pouch, and prismatic formats, along with battery modules, packs, and related components.

EESL's business encompasses manufacturing battery cells of advanced chemistry across multiple form factors, as well as assembling and selling battery modules, battery packs, and undertaking related activities. The expansion aligns with India's growing electric vehicle market and increasing demand for energy storage solutions.

The transaction was conducted at arm's length, with the promoter and promoter group having no interest beyond the disclosed investment. No governmental or regulatory approvals were required for the rights issue, and the equity shares were allotted on January 28, 2026.