Exide Industries Ltd (EIL) has infused ₹80 crore into its wholly-owned arm, Exide Energy Solutions Ltd (EESL), to support the ongoing development of its greenfield lithium-ion cell manufacturing facility in Bengaluru. The investment was made on a rights basis and keeps EIL’s shareholding in the subsidiary unchanged at 100%.
With this latest infusion, Exide’s total investment in EESL has climbed to ₹3,882.23 crore. The fresh capital was raised through the allotment of two crore equity shares of ₹10 each at a premium of ₹30 per share. While the transaction qualifies as a related-party deal, the company clarified that it was conducted at arm’s length, with no promoter involvement beyond EIL’s existing ownership.
EESL, set up in March 2022, focuses on the production and sale of lithium-ion cells, modules, and battery packs for India’s fast-growing electric vehicle (EV) ecosystem as well as stationary energy storage solutions. The Bengaluru project, which is under construction, forms a key part of this expansion strategy.
According to its latest financials, EESL has a paid-up equity capital of ₹1,274.21 crore and a net worth of ₹2,738.06 crore. For FY25, the company reported a turnover of ₹116.89 crore and a loss of ₹209.12 crore. In the previous two years, turnover stood at ₹112.05 crore (FY23) and ₹239.14 crore (FY24), reflecting growth momentum after the merger of Exide Energy Pvt. Ltd. with EESL.
The company noted that no regulatory or government approvals were needed for this funding. The shares were officially allotted on September 25, 2025.
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