Exide Industries has invested Rs 25 crore by way of subscription to the Compulsory Convertible Preference Shares (CCPS) of its subsidiary -- Exide Leclanche Energy (hereinafter referred as JVC). With this investment, Exide Industries will hold 100% CCPS of the JVC. The equity shareholding with voting rights of Exide Industries in JVC remains unchanged at 84.90%. The investment is made to meet various funding requirements of JVC. However, there will be no change in the equity holding of Exide Industries in JVC.
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.
| Company Name | CMP |
|---|---|
| Exide Inds | 330.05 |
| Amara Raja Energy | 778.45 |
| HBL Engineering | 786.60 |
| Eveready Inds. India | 302.45 |
| Indo-National | 326.15 |
| View more.. | |
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