Exide Industries Limited (EIL) has infused nearly ₹200 crore into its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), to support its lithium-ion battery manufacturing operations and other funding requirements. The company announced the transaction on August 18, 2026, through a rights issue involving the allotment of 5,71,42,857 equity shares of ₹10 each at a premium of ₹25 per share. The total investment amounted to ₹1,999,999,995.
The latest investment is part of a broader capital infusion plan approved by EIL’s Board of Directors on January 30, 2026. Under the plan, EIL authorized an investment of up to ₹1,400 crore in EESL in one or more tranches. The funds are intended primarily to support the development of EESL’s greenfield multi-gigawatt lithium-ion cell manufacturing facility in Bengaluru, along with other operational funding needs.
Following the latest investment, EIL’s cumulative investment in EESL has increased to ₹5,102.23 crore. Despite the fresh equity infusion, EIL’s shareholding in the subsidiary remains unchanged at 100%.
EESL was incorporated on March 24, 2022, and focuses on manufacturing and selling lithium-ion battery cells, modules, and packs for India’s electric vehicle and stationary energy storage markets.
For the financial year ended March 31, 2026, EESL reported a turnover of ₹157.56 crore and a net loss after tax of ₹248.16 crore. Its turnover stood at ₹116.89 crore in FY 2024–25 and ₹239.14 crore in FY 2023–24. The subsidiary’s net worth was ₹3,991.06 crore as of March 31, 2026.
As a direct wholly-owned subsidiary, the transaction qualifies as an arm’s-length related-party transaction and does not require additional government or regulatory approvals.
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