Exide Industries Limited (EIL) has extended the Corporate Guarantee to the tune of Rs. 2,000 crore in favour of various banks against the respective credit facilities sanctioned by the banks to Exide Energy Solutions Limited (EESL), a wholly owned subsidiary of the company.

EIL informed that the corporate guarantee limit will be increased from Rs. 2,000 crore to Rs. 3,000 crore.

As part of this exercise, EIL has executed deed of corporate guarantee with ICICI Bank Limited thus totalling overall limit to Rs. 750 crore. The company is in the process to execute the agreements for balance amount with various other banks.