Exide to invest $11.5 million in wholly owned subsidiary EESL to fund Bangalore-based battery-cell plant
The investment supports Exide's Bengaluru plant, enhancing domestic EV supply and reducing import reliance
Exide Industries Limited (EIL) has made a substantial investment of 1000 million Indian Rupees ($11.5 million) in its fully owned subsidiary, Exide Energy Solutions Limited (EESL), through a rights issue. This latest investment increases EIL's total equity investment in EESL to 3,7022.3 million Indian Rupees while maintaining a 100% shareholding in the subsidiary.
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