Exide Industries has invested INR 200 crore in its wholly owned subsidiary Exide Energy Solutions (EESL) through a rights-based equity subscription to fund the development of its greenfield multi-gigawatt lithium-ion cell manufacturing facility in India.
Exide Industries invested INR 199.99 crore on Aug. 18 by subscribing to EESL’s equity share capital on a rights basis. The company subscribed to 57,142,857 equity shares at INR 35 per share, comprising a face value of INR 10 and a premium of INR 25.
Following the investment, Exide Industries’ total investment in EESL stands at INR 5,102.23 crore, including investment in the erstwhile merged subsidiary Exide Energy Private Ltd (EEPL). Its shareholding in EESL remains unchanged at 100%.
EESL, incorporated on March 24, 2022, is setting up a greenfield facility in Bengaluru to manufacture lithium-ion battery cells, modules and packs for India’s electric vehicle market and stationary storage applications. The project has an initial planned capacity of 6 GWh, scalable up to 12 GWh, with four production lines across cylindrical and prismatic cell formats, catering to both LFP and NMC chemistries.
Exide Industries’ board had approved an additional investment of up to INR 1,400 crore in EESL on Jan. 30, 2026, through subscription to its equity share capital to fund the development of a greenfield multi-gigawatt lithium-ion cell manufacturing facility in India, in one or more tranches.
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