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Exide Industries invests Rs 340 crore in Exide Energy Solutions
Oct-04-2023

Exide Industries (EIL) has invested Rs 340 crore by the way of subscription in the equity share capital of Exide Energy Solutions (EESL), a wholly owned subsidiary on right basis. EESL is in the process of setting up a plant for manufacturing & selling lithium-ion battery cells, modules and pack business. The company has made further investment by subscribing to equity shares offered by EESL on a rights basis to fund its green field project and meet various funding requirements. With the current investment, EIL shareholding in EESL remains unchanged at 100%.

Exide Industries was incorporated in January 1947 as Associated Battery Makers to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company.


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