Exide Industries Ltd makes further investment in Exide Energy Solutions Ltd

Exide Industries Limited ('Company/EIL') has invested Rs.74,99,99,988/- (Rupees seventy four crore ninety nine lakh ninety nine thousand nine hundred and eighty eight only) by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited" (hereinafter referred as 'EESL'), on rights basis. With this investment, the total investment made by the Company in EESL stands to Rs.2,452.24 crore. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

Exide Energy Solutions Limited (EESL), an existing wholly owned subsidiary of Exide Industries Limited (EIL) was incorporated on 24th March 2022 and is engaged in the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications.

Source : Equity Bulls

Keywords

ExideIndustries Investment ExideEnergySolutions