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Exide Industries subscribes stake in Ulric Renewables

11 Apr 2023 Evaluate

Exide Industries has subscribed 24,80,625 equity shares of Rs 80 each aggregating to Rs 19.84 crore in Ulric Renewables on April 10, 2023. With this investment, the aggregate shareholding of the Company constitutes to 39.08% of issued and paid-up capital of Ulric Renewables.

Earlier, the company had entered into 'Share Subscription and Shareholders' Agreement' and 'Power Purchase Agreements' on February 28, 2023 with Ulric Renewables, a Special Purpose Vehicle promoted and incorporated by Cleantech Solar India OA 2 (CLEANTECII) for setting up captive wind power project aggregating to 18.9 MW for various manufacturing facilities of the Company.

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.

Exide Inds Share Price

331.30 1.25 (0.38%)
20-Apr-2026 14:27 View Price Chart
Peers
Company Name CMP
Exide Inds 331.30
Amara Raja Energy 765.90
HBL Engineering 782.95
Eveready Inds. India 304.60
Indo-National 328.10
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