Exide Industries Limited has invested ₹199.99 crore in its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights-based equity subscription. The investment will support the development of EESL’s greenfield, multi-gigawatt lithium-ion cell manufacturing facility in Bengaluru, Karnataka.
The investment was completed on August 18, 2026, with EESL allotting 57,142,857 equity shares to Exide Industries at ₹35 per share, comprising a ₹10 face value and ₹25 premium. Exide Industries continues to hold 100% ownership in EESL following the transaction.
With this latest infusion, Exide Industries’ cumulative investment in EESL has reached ₹5,102.23 crore. The company’s Board had earlier approved additional funding of up to ₹1,400 crore for EESL, primarily to support the lithium-ion cell manufacturing project and related funding requirements.
EESL is developing lithium-ion battery cells, modules and packs for electric vehicles and stationary energy-storage applications, strengthening Exide’s position in India’s growing advanced battery manufacturing ecosystem.
Key Highlights
- ₹199.99 crore fresh investment
- ₹5,102.23 crore cumulative investment in EESL
- Multi-GW lithium-ion cell manufacturing facility
- Bengaluru, Karnataka project location
- 100% Exide ownership retained
- Target applications: EVs & stationary energy storage
- Up to ₹1,400 crore additional funding approved for EESL
