Exide Industries Ltd makes further investment in Exide Energy Solutions Ltd

Exide Industries Limited ('Company/EIL') has invested Rs. 39,99,99,975/- (Rupees thirty nine crores ninety nine lakhs ninety nine thousand nine hundred seventy five 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. With this investment, the total investment made by the Company in EESL stands to Rs. 1,820.01 crore. 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 in the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications.

As on date, the total investment by Exide Industries Limited in the equity share capital of EESL including share premium stands to Rs 1,820.01 crore.

The Company has made further investment by subscribing to equity shares offered by EESL on a rights basis to fund its green field project and meet various funding requirements.

Shares of Exide Industries Limited was last trading in BSE at Rs. 300.90 as compared to the previous close of Rs. 296.50. The total number of shares traded during the day was 242277 in over 5537 trades.

The stock hit an intraday high of Rs. 301.80 and intraday low of 295.65. The net turnover during the day was Rs. 72480046.00.

Source : Equity Bulls

Keywords

ExideIndustries INE302A01020 Investment ExideEnergySolutions