Exide Industries (EIL) has invested Rs 19.99 crore by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy (hereinafter referred as ‘JVC’) in order to meet various funding requirements of JVC.
The equity shares against the current investment were allotted by the JVC on January 21, 2022. With the current investment, EIL shareholding in JVC stands increased to 84.90%.
Exide Industries was incorporated in January 1947 as Associated Battery Makers to purchase all or any of the assets of the business of manufacturers, buyers and sellers of and dealers in and repairers of electrical and chemical appliances and goods carried on by the Chloride Electric Storage Company.