Exide Industries has infused Rs 100 crore into Exide Energy Solutions through an equity share capital subscription on a rights basis. This brings the company's total investment in Exide Energy Solutions to Rs 1,680.01 crore. The shareholding pattern of Exide Industries in Exide Energy Solutions remains unchanged, as confirmed by a recent exchange filing.

Exide Energy Solutions, a wholly-owned subsidiary of Exide Industries, specialises in the production of battery cells, assembly, and the sale of battery modules and packs. The subsidiary has outlined plans to establish a facility for the manufacturing and sale of lithium-ion battery cells, modules, and packs, as detailed in the filing.

Furthermore, Exide Industries has resolved a trademark dispute with U.K.'s Vertiv Company Group Ltd. and India's Vertiv Energy Pvt. The resolution, reached on Nov. 17 before the High Court of Delhi, stipulates that VCGL and VEPL acknowledge Exide's ownership of the trademark Chloride and its variants in India, as indicated in the exchange filing.

As part of the agreement, VCGL and VEPL commit not to utilise the Chloride trademark in India, either directly or indirectly. Additionally, they will withdraw all claims related to the mark, as outlined in the filing.

Source: BQ Prime