Exide Industries Ltd, a prominent player in the battery manufacturing sector, has announced a substantial investment of over INR 100 crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd. This subsidiary specializes in the production of advanced chemistry battery cells. The investment was facilitated through a subscription to the equity share capital of Exide Energy Solutions Ltd (EESL) on a rights basis, as detailed in a regulatory disclosure by Exide Industries.
It’s important to note that this acquisition of shares does not result in any alteration to the company’s existing shareholding percentage in EESL, as confirmed in the filing.
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As of the current date, EESL maintains a paid-up equity share capital of INR 374.40 crore, with a net worth valued at INR 655.20 crore as of March 31, 2023. The filing also reports a net loss of INR 59.81 crore for EESL in the fiscal year ending March 31.
EESL primarily specializes in the production of battery cells with advanced chemistry and various form factors, including but not limited to cylindrical, pouch, and prismatic battery cells. Furthermore, the company actively engages in the manufacturing, assembly, and sale of battery modules, battery packs, and various related activities.
