Exide Industries Limited (EIL) has further invested an amount aggregating to Rs39,99,99,999/- by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy Private Limited" (JVC).
With the above investment 1,90,47,619 Equity Shares of Rs10/- at Premium of Rs11/- each aggregating to Rs40cr, the equity shareholding of EIL in JVC stands increased by 2.56% from 80.15% to 82.71 % of the total paid-up share capital.
JVC is involved in the manufacture, assembly, trade, sale and distribution of lithium ion batteries, module making and associated systems (Products) in the Territory (Battery Pack Assembly Plant).
It is also involved in contract manufacturing/ sourcing of modules for third parties in the Territory on a case to case basis for strategic reasons as may be agreed between the Parties.
Exide Industries Ltd trade on Tuesday ended at Rs179.45 per piece up by Rs3.2 or 1.82% from its previous closing of Rs176.25 per piece on the BSE.