Exide Invests Rs 4.5 Billion To Expand Bengaluru Battery Plant

30 Mar 2026 CW Team

Exide Industries completed a capital infusion of Rs 4.5 billion (bn) into its wholly owned subsidiary Exide Energy Solutions Limited on 25 March 2026. The funds were raised through a rights issue under which the subsidiary allotted 112.5 million (mn) equity shares with a face value of Rs 10 each and a premium of Rs 30 per share. The transaction was completed on an arm's length basis and Exide retained 100 per cent ownership. The move forms part of the company’s pivot into lithium ion battery manufacturing.

The capital will fund a greenfield lithium ion cell manufacturing project in Bengaluru to serve electric mobility and stationary energy storage markets. The subsidiary, incorporated in 2022, focuses on manufacturing cells, modules and battery packs. The facility is expected to be configured to scale cell output to meet phased demand growth.

With this infusion, Exide Industries’ cumulative investment in the subsidiary has reached Rs 48.0223 billion (bn), underscoring its commitment to EV batteries. The transaction mirrors a broader shift by traditional battery makers towards lithium ion technology as demand rises from electric mobility and renewables. The company expects the scale up to support both passenger and commercial vehicle segments.

The rights issue is intended to accelerate cell production capacity while keeping corporate control of the venture. The expansion aims to reduce reliance on imports and strengthen local supply chains for battery components. The plan includes measures to develop vendor networks and to enhance component domestication.

The initiative may support localisation and long term industrial development but also highlights the financing and technological challenges of scaling lithium ion cell manufacturing in India. Policymakers and industry participants will watch progress as the project moves towards production. Successful commissioning will depend on timely capital deployment and technology transfer.

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