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Exide Industries invests Rs 1499.90 million in lithium battery subsidiary EESL

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Exide Industries Limited has invested Rs 1499.90 million in its subsidiary, Exide Energy Solutions Limited (EESL), through a rights-based equity subscription.  This brings Exide’s total investment in EESL to Rs 33,022.3 million, including prior investments in the now-merged Exide Energy Private Limited. EESL issued 41,663,892 equity shares with a face value of Rs 10 each, at a premium of Rs 26 per share, aggregating to Rs 1,499.90 million. Despite this investment, Exide’s shareholding percentage in…

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Andhra Pradesh leads LED streetlight installations under SLNP

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Andhra Pradesh has emerged as the top state in LED streetlight installations under the Street Lighting National Programme (SLNP), according to a recent Parliament reply.  Shripad Naik, Union Minister of State for Power, stated that 13.1 million LED streetlights had been installed nationwide as of November 7, 2024. Andhra Pradesh accounted for 2.9 million installations or 22.4 per cent of the total. Telangana ranked second with 1.7 million installations, contributing 13.2 per cent to the…