Exide Industries has infused ₹450 crore into its EV battery arm, taking total investment to over ₹4,800 crore, to support manufacturing expansion and operations.
Exide Industries Limited has infused an additional ₹450 crore into its wholly owned subsidiary, Exide Energy Solutions Limited, taking its total investment in the EV battery business to ₹4,802.23 crore. The capital infusion was made through a rights issue of equity shares.
As part of the transaction, Exide Energy Solutions allotted 11.25 crore equity shares with a face value of ₹10 each at a premium of ₹30 per share, resulting in an issue price of ₹40 per share. The entire amount was subscribed in cash by the parent company, with Exide Industries retaining its 100 percent ownership in the subsidiary.
Established in March 2022, Exide Energy Solutions focuses on the manufacturing of lithium-ion battery cells, modules and packs for electric vehicles as well as stationary energy storage applications. Its product portfolio includes cylindrical, pouch and prismatic cell formats.
The subsidiary is currently developing a greenfield manufacturing facility near Bengaluru. The latest funding will be used to support this project along with broader operational requirements as the business scales up.
Financially, Exide Energy Solutions reflects the characteristics of a capital-intensive venture in its early stages. The company reported a loss after tax of ₹209.12 crore in FY25, while revenue declined to ₹116.89 crore from ₹239.14 crore in the previous fiscal. Its paid-up capital stands at ₹1,504.21 crore, with a net worth of ₹2,738.06 crore.
Despite near-term financial pressures, Exide Industries continues to invest aggressively in its EV battery vertical, underlining its long-term commitment to building domestic lithium-ion cell manufacturing capabilities in India.
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