Exide Industries has invested over Rs 100 crore in its wholly-owned subsidiary, Exide Energy Solutions (EESL), which manufactures advanced chemistry battery cells.
Exide Industries has made the investment by way of subscription in the equity share capital of EESL on a rights basis. There is no change in the shareholding percentage of the company in its arm, pursuant to the acquisition.
EESL is engaged in the production of battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch, prismatic battery cells. It is also involved in making, assembling and selling of battery modules, battery packs and other related activities.