Exide Industries has made an additional investment of ₹4.5 billion (~$47.86 million) in its wholly owned subsidiary, Exide Energy Solutions (EESL), through a rights issue of equity shares. EESL is developing a facility in Bengaluru to develop lithium-ion battery cells and related products.

With this infusion, Exide’s total investment in EESL has increased to ₹48.02 billion (~$510.78 million), while its shareholding remains unchanged at 100%.

The subscription involved 112.5 million equity shares of ₹10 (~$0.11) each, issued at a premium of ₹30 (~$0.32) per share, aggregating to ₹4.5 billion (~$47.86 million), with the entire amount paid in cash.

Exide said the capital infusion will support the subsidiary’s ongoing project development and meet its broader funding requirements.

Last December, Exide invested ₹1.8 billion (~$20.04 million) in EESL by subscribing to the subsidiary’s equity capital via a rights issue

EESL, incorporated in March 2022, operates in the advanced battery manufacturing space, focusing on lithium-ion battery cells, modules, and packs for electric vehicles and other energy storage applications.

EESL has a paid-up capital of ₹15.04 billion (~$159.97 million), a net worth of ₹27.38 billion (~$291.24 million), and reported a turnover of ₹1.16 billion (~$12.34 million) in FY 2024-25.

India added nearly 547 MWh of battery energy storage capacity in 2025, around a 26% year-over-year increase from over 433 MWh, according to the newly released 2H & Annual 2025 India’s Energy Storage Landscape Report by Mercom India Research. India’s cumulative installed battery energy storage capacity reached almost 1.08 GWh as of December 2025. Solar-plus energy storage systems accounted for more than 54% of the cumulative installed capacity, followed by about 23% from solar-plus-wind round-the-clock projects and nearly 21% from standalone battery energy storage systems.

The global lithium-ion battery industry is at an inflection point characterized by rapid demand growth, falling prices, technological advancements, and intensifying global competition, according to a report published by McKinsey & Company. The demand for lithium-ion batteries crossed 1 TWh in 2024 and reached nearly 1.6 TWh in 2025.