Exide Industries Limited raises stake in Exide Leclanche Energy Pvt Ltd to 80.15%

Exide Industries Limited ('EIL') has further invested an amount aggregating to Rs 33.17 crore by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy Private Limited" (hereinafter referred as 'JVC').

The company is into manufacture, assembly, trade, sale and distribution of lithium ion batteries, module making and associated systems ("Products") in the Territory ("Battery Pack Assembly Plant") and contract manufacturing / sourcing of modules for third parties in the Territory on a case to case basis for strategic reasons as may be agreed between the Parties.

1,32,69,600 Equity Shares of Rs. 10/- at Premium of Rs. 15/- each aggregating to Rs. 33.17 crore will be allotted to EIL.

With the above investment, the equity shareholding of EIL in JVC stands increased from 77.87% to 80.15% of the total paid-up share capital.

Shares of EXIDE INDUSTRIES LTD. was last trading in BSE at Rs.173.65 as compared to the previous close of Rs. 171.75. The total number of shares traded during the day was 166146 in over 2392 trades.

The stock hit an intraday high of Rs. 175.5 and intraday low of 173. The net turnover during the day was Rs. 28968812.

Source : Equity Bulls

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