Exide invests additional Rs 40 cr in its subsidiary
The investment of Rs 39,99,99,975 has been made by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL), on rights basis.
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NEW DELHI: Battery maker Exide Industries Ltd on Wednesday said it has further invested nearly Rs 40 crore in its wholly-owned arm advanced chemistry battery cells manufacturer Exide Energy Solutions Ltd.
The investment of Rs 39,99,99,975 has been made by way of subscription in the equity share capital of Exide Energy Solutions Ltd (EESL), on rights basis, Exide Industries said in a regulatory filing. “With this investment, the total investment made by the company in EESL stands at Rs 1,965 crore. There is no change in the shareholding percentage of the company in EESL pursuant to such an acquisition,” it added.