Exide Industries Ltd invests Rs. 340 crores in Exide Energy Solutions Ltd

Exide Industries Limited ('Company/EIL') has invested Rs. 340,00,00,020/- (Rupees Three hundred fo1ty Crore and Twenty only) by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited" (hereinafter referred as 'EESL'), on rights basis. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

Exide Energy Solutions Limited (EESL), an existing wholly owned subsidiary of Exide Industries Limited (EIL) was incorporated on 24th March 2022 and will be engaged m the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications.

Shares of Exide Industries Limited was last trading in BSE at Rs. 256.70 as compared to the previous close of Rs. 259.90. The total number of shares traded during the day was 67251 in over 1916 trades.

The stock hit an intraday high of Rs. 260.15 and intraday low of 255.15. The net turnover during the day was Rs. 17327817.00.

Source : Equity Bulls

Keywords

ExideIndustries INE302A01020 Investment ExideEnergySolutions