Exide Industries Limited (EIL) has invested Rs. 340 crore by way of subscription in the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited, on rights basis. There is no change in the shareholding percentage of the Company in EESL pursuant to such an acquisition.

Exide Energy Solutions Limited (EESL), an existing wholly owned subsidiary of Exide Industries Limited was incorporated on 24th March 2022 and will be engaged m the business of manufacturing & selling lithium-ion battery cells, modules and packs for India's electric vehicle market and stationary applications.