Exide Industries has invested Rs 200 crore in its wholly owned subsidiary Exide Energy Solutions Limited (EESL), which manufactures lithium-ion battery cells, modules and packs for electric vehicles and stationary applications. EESL allotted 5,71,42,857 equity shares of Rs 10 each at a premium of Rs 25 per share to Exide Industries on a rights basis, aggregating to Rs 199.99 crore. The shares were allotted on August 18, 2026.
The investment will be used to fund EESL’s greenfield lithium-ion battery manufacturing project in Bengaluru and meet other funding requirements. Exide Industries’ shareholding in EESL remains unchanged at 100 per cent following the investment.
Investment In Battery Manufacturing
EESL, incorporated on March 24, 2022, manufactures advanced-chemistry battery cells in cylindrical, pouch and prismatic formats, along with battery modules and packs. As of March 31, 2026, EESL had paid-up equity share capital of Rs 1,589.93 crore and a net worth of Rs 3,991.06 crore. The company recorded turnover of Rs 157.56 crore in FY26 and reported a loss after tax of Rs 248.16 crore.
With the latest infusion, Exide Industries’ cumulative investment in EESL’s equity share capital, including share premium and investments made in the erstwhile Exide Energy Private Limited, stands at Rs 5,102.23 crore. EESL had reported turnover of Rs 116.89 crore in FY25 and Rs 239.14 crore in FY24. The FY24 and FY25 figures reflect the subsequent merger of Exide Energy Private Limited with EESL.