Exide Industries Ltd. has invested an additional Rs.100 crore in its wholly owned subsidiary, Exide Energy Solutions Ltd., through a rights issue. Following the latest investment, Exide Industries’ total investment in the subsidiary has reached around Rs.5,202.23 crore.
The investment does not change Exide Industries’ shareholding percentage in the subsidiary. Exide Energy Solutions is involved in the company’s battery and energy-storage business, making the latest capital infusion part of its ongoing investment in the segment.
