Exide Industries invests Rs 100 crore more in EESL

Exide Industries Limited has infused a further Rs 100 crore into its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue subscription. The investment was announced on February 24, 2026, taking the parent company’s total contribution to the lithium-ion battery venture to Rs 4,352.23 crore while retaining a 100 % stake.

The capital infusion involves subscription to 2.5 crore equity shares with a face value of Rs 10 each and a premium of Rs 30 per share. According to the company’s regulatory filing, the funds will support EESL’s ongoing greenfield facility in Bengaluru focused on manufacturing lithium-ion battery cells, modules, and packs for India’s electric vehicle market and stationary energy applications.

This infusion follows a Rs 50 crore investment completed on January 28, 2026, which had increased Exide Industries’ total exposure in the advanced chemistry cell business to Rs 4,252.23 crore at the time. With the current transaction, the cumulative investment has reached Rs 4,352.23 crore, reflecting the company’s continued focus on building its presence in the domestic electric vehicle supply chain.

EESL, incorporated in March 2022, reported a paid-up equity share capital of Rs 1,391.71 crore in the latest filing. For the fiscal year ended March 31, 2025, the subsidiary recorded turnover of Rs 116.89 crore and a net worth of Rs 2,738.06 crore. The company reported a loss after tax of Rs 209.12 crore during the same period, reflecting the capital-intensive process of establishing advanced chemistry cell manufacturing capabilities.

The rights issue transaction qualifies as a related party transaction because EESL is a wholly owned subsidiary. The company stated that no governmental or regulatory approvals were required for the investment. Historical financial data indicates EESL reported turnover of Rs 239.14 crore in FY 2023-24 and Rs 112.05 crore in FY 2022-23 following the merger of Exide Energy Private Limited (EEPL) into EESL.

After the investment, Exide Industries continues to hold 100 % ownership of EESL with no change in its shareholding. The equity shares linked to the investment were allotted on February 24, 2026, completing the funding round.

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