Exide Industries increases stake in JV Exide Leclanche Energy to 84.90%

Exide Industries Limited ('EIL') has invested Rs. 19,99,99,989/- by way of subscription to the equity share capital of its subsidiary, "Exide Leclanche Energy Private Limited" (hereinafter referred as 'JVC') and as a result of which, its total equity shareholding in JVC stands increased to 84.90%.

The joint venture 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.

Shares of Exide Industries Limited was last trading in BSE at Rs. 176.00 as compared to the previous close of Rs. 177.70. The total number of shares traded during the day was 323861 in over 5770 trades.

The stock hit an intraday high of Rs. 179.35 and intraday low of 174.80. The net turnover during the day was Rs. 57412069.00.

Source : Equity Bulls

Keywords

ExideIndustries INE302A01020 StakeIncrease JointVenture LithiumionBatteries ContractManufacturing