Exide Industries Limited deepened its commitment to the electric vehicle (EV) supply chain by infusing an additional ₹50 crore into its subsidiary, Exide Energy Solutions Limited (EESL).
This investment brings Exide’s cumulative commitment to the “gigafactory” project to over ₹4,250 crore, marking a pivotal shift from lead-acid legacy to lithium-ion leadership.
Investment Architecture (January 2026)
The capital infusion was structured to strengthen EESL’s balance sheet without altering the parent company’s control.
- Subscription Method: Rights basis (1.25 crore equity shares).
- Pricing: ₹10 face value + ₹30 premium (₹40 per share).
- Ownership: Remains a 100% wholly-owned subsidiary.
- Total Investment to Date: ₹4,252.23 crore (cumulative).
The Bengaluru Gigafactory: Progress Report
The primary destination for this capital is the massive greenfield facility in Bengaluru, which is currently in its final stages of commissioning.
| Feature | Details |
| Location | 80-acre campus at Hi-Tech Defense & Aerospace Park, Bengaluru |
| Phase I Capacity | 6 GWh (Gigawatt-hours) |
| Target Launch | Commercial production by the end of FY 2025-26 |
| Chemistry Types | NCM (Nickel Manganese Cobalt) and LFP (Lithium Iron Phosphate) |
| Form Factors | Cylindrical, pouch, and prismatic cells |
| Strategic Partners | Technical collaboration with SVOLT Energy (China) |
EESL Financials & Strategic Outlook
While the subsidiary reported a loss in FY25, the trajectory reflects the heavy capital expenditure (CAPEX) phase typical of high-tech industrial startups.
- FY 2024-25 Revenue: ₹116.89 crore.
- FY 2024-25 Net Worth: ₹2,738.06 crore.
- Market Traction: Exide is in advanced discussions with major two-wheeler OEMs (including Hyundai and Kia for future LFP battery supply) to secure offtake agreements as soon as the plant goes live.
- Goal: To achieve 60% utilization quickly post-launch, eventually ramping up to 12 GWh in Phase II.