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exide industries: Exide Industries invests over Rs 100 crore in superior chemistry battery cells making arm

Battery maker Exide Industries Ltd on Thursday mentioned it has invested over Rs 100 crore in its wholly-owned arm Exide Power Options Ltd, which is into manufacturing of superior chemistry battery cells. In a regulatory submitting, Exide Industries mentioned it made the funding by means of subscription within the fairness share capital of Exide Power Options Ltd (EESL) on a rights foundation.

There isn’t a change within the shareholding share of the corporate in EESL pursuant to such acquisition, it mentioned.

EESL has a paid up fairness share capital of Rs 374.40 crore as on date with web price of Rs 655.20 crore as on March 31, 2023 and it posted a web lack of Rs 59.81 crore within the 12 months ended March 31, the submitting added.

The corporate is into manufacturing battery cells of superior chemistry and kind issue, together with however not restricted to cylindrical, pouch, prismatic battery cells in addition to manufacturing, assembling, promoting battery modules, battery packs and different associated actions, the corporate mentioned.

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