Exide Industries Limited has invested Rs. 100 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue of equity shares, the company informed stock exchanges in a regulatory filing on Tuesday. Following this investment, Exide Industries’ total investment in EESL has increased to Rs. 4,352.23 crore, while its shareholding in the subsidiary remains unchanged at 100 per cent.
The company subscribed to 2,50,00,000 equity shares of Rs. 10 each at a premium of Rs. 30 per share, aggregating to Rs. 100 crore. The shares were allotted on 24 February 2026, and the consideration for the transaction was made in cash.
The investment has been made to support EESL’s ongoing greenfield lithium-ion battery manufacturing project in Bengaluru, which is being developed to manufacture and sell lithium-ion battery cells, modules, and packs for India’s electric vehicle market and stationary applications. The funding will help meet the subsidiary’s various capital requirements for the project.
EESL, incorporated on 24 March 2022, operates in the advanced battery manufacturing segment, including cylindrical, pouch, and prismatic battery cells, along with battery modules and packs. As of the date of disclosure, the subsidiary has a paid-up equity share capital of Rs. 1,391.71 crore and a net worth of Rs. 2,738.06 crore as of 31 March 2025. It reported a turnover of Rs. 116.89 crore and a loss after tax of Rs. 209.12 crore for FY2024-25.
The company clarified that the transaction qualifies as a related-party transaction since EESL is a wholly owned subsidiary. However, it stated that the deal has been conducted at arm’s length, and apart from the investment, no promoter, promoter group, or group company has any additional interest in the transaction. No governmental or regulatory approvals were required.
For the past three financial years, EESL reported turnover of Rs. 116.89 crore in FY2024-25, Rs. 239.14 crore in FY2023-24, and Rs. 112.05 crore in FY2022-23, following the merger with Exide Energy Private Limited. The latest investment reinforces Exide Industries’ strategy to strengthen its presence in the lithium-ion battery and energy storage ecosystem in India.
