Exide Industries’ material wholly owned subsidiary -- Chloride Metals (CML) has entered into ' Share Subscription and Shareholders' agreement' on September 12, 2023 (SSSHA) with Cleantech Solar India OA 2 Pte (Cleantech) and Zillica Renewables (Zillica/SPV), subsidiary of Cleantech for purchase of solar energy from the captive power plant to be set up by the SPV. As a result of above, CML has agreed to subscribe equity shares comprising upto 26.33% of the issued and paid up share capital of Zillica.
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.
