Exide Industries Limited (EIL) announced a further investment of Rs. 100,00,00,000/- (One Hundred Crore Rupees) into its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), on February 24, 2026. The funding was provided via subscription to equity shares on a rights basis. This capital infusion supports EESL’s ongoing greenfield project in Bengaluru for manufacturing lithium-ion battery cells and modules. The total investment in EESL now stands at Rs. 4,352.23 crore, with EIL maintaining 100% shareholding.
Capital Infusion for EV Focus
Exide Industries Limited (EIL) confirmed today, February 24, 2026, that it has injected substantial capital into its subsidiary, Exide Energy Solutions Limited (EESL). The investment totals Rs. 100,00,00,000/- (One Hundred Crore Rupees) subscribed through the purchase of equity share capital on a rights basis.
The primary objective of this fresh equity infusion is to fund EESL’s ongoing greenfield plant project in Bengaluru. This facility is dedicated to the manufacturing and sale of lithium-ion battery cells, modules, and packs, catering specifically to India’s electric vehicle (EV) market and stationary applications. Despite this investment, EIL’s shareholding and control in EESL remain unchanged at 100%.
Details of the Transaction
The transaction involved the allotment of 2,50,00,000 nos. equity shares of Rs. 10/- each. These shares were issued at a significant premium of Rs. 30/- per share, meaning the effective acquisition price was Rs. 40/- per share. As a result of this allocation, the total cumulative investment by EIL in EESL’s equity capital, including share premium, has reached Rs. 4,352.23 crore.
The transaction is confirmed to be at arm’s length. Save for this subscription, no other promoter or promoter group companies hold any direct interest in this specific transaction.
Subsidiary Background
EESL, which was incorporated on March 24, 2022, is focused on advanced chemistry battery cells and associated modules and packs. The current capital injection follows a prior merger with the erstwhile merged subsidiary, Exide Energy Private Limited (‘EEPL’).
Key historical financials for EESL (subsequent to the merger with EEPL) are as follows:
- FY 2024-25 Turnover: Rs. 116.89 crore
- FY 2023-24 Turnover: Rs. 239.14 crore
- FY 2022-23 Turnover: Rs. 112.05 crore
As of the latest reported figures (31.03.2025), EESL had a paid-up equity share capital of Rs. 1,391.71 crore, a net worth of Rs. 2,738.06 crore, and reported a Loss After Tax of Rs. 209.12 crore for the year ended March 31, 2025.
Source: BSE
