Exide Industries to Invest INR 450 Crore in EV Battery Arm EESL for Bengaluru Plant

Exide Industries Ltd. has announced an investment of INR 450 crore in its wholly owned subsidiary, Exide Energy Solutions Ltd., through a rights issue to support its lithium-ion battery manufacturing expansion.

The fresh capital infusion will primarily fund the development of a greenfield lithium-ion battery plant in Bengaluru, aimed at producing advanced battery cells, modules, and packs for electric vehicles and stationary energy storage applications.

Following this investment, Exide’s total funding in EESL has reached INR 4,802.23 crore, while its shareholding remains unchanged at 100 percent. The transaction, classified as a related party deal, has been executed at arm’s length and does not require any regulatory approvals.

EESL, incorporated in 2022, is focused on building domestic capabilities in advanced chemistry cell manufacturing. The company reported a turnover of INR 116.89 crore in FY25, with ongoing investments reflecting its scale-up phase in India’s rapidly growing EV battery market.