Exide Industries invests Rs 20cr in Exide Leclanche Energy

Exide Industries Limited, an Indian storage battery manufacturer, said that it has invested nearly INR 20 crores in Exide Leclanche Energy to increase its stake in the manufacturer of lithium ion batteries, module making, and associated systems to 84.9%.

The additional stake of 0.9% was acquired by Exide Industries through subscription to the equity share capital of the subsidiary, said Exide Industries.

Exide Industries purchased the equity shares at a price of INR 21 per share including a premium of INR 11 per share.