Significant Financial Infusion
Exide Industries Ltd has made a substantial investment of 1 billion rupees in its wholly-owned subsidiary, Exide Energy Solutions Ltd. This investment was made through the subscription of 32.26 million shares on a rights basis, as per the company’s recent exchange filing. This latest financial move brings Exide Industries’ total investment in Exide Energy Solutions to an impressive 17.80 billion rupees.
Focus on Lithium-Ion Battery Manufacturing
Exide Energy Solutions is at the forefront of developing and selling lithium-ion battery cells, modules, and packs. These products are primarily aimed at India’s burgeoning electric vehicle market, as well as for stationary applications. The significant capital injection by Exide Industries is poised to further strengthen this focus.
Development of a New Manufacturing Plant
The subsidiary is currently engaged in establishing a new facility dedicated to the production of lithium-ion battery cells, modules, and packs. The newly invested funds are earmarked for this greenfield project, addressing various funding needs essential for its realization.
Positive Market Response
Following this announcement, Exide Industries witnessed a positive market reaction. The company’s shares closed 3.2% higher at 296.15 rupees on the National Stock Exchange, reflecting investor confidence in the strategic direction and growth potential of the company’s lithium-ion battery venture. 
