Exide Industries announced that its JV subsidiary, Exide Leclanche Energy (ELEPL) had floated a buyback offer which closed on 03 November 2022.
Through this buy-back scheme, Leclanche S. A. ('LSA'), the N partner, has offered its entire holding of 2,55,23,914 equity shares constituting 15.10% in the issued and paid-up equity share capital of ELEPL. LSA has transferred its shares from their demat account to the escrow demat account of ELEPL.
ELEPL is in process of completing the buyback formalities and upon its completion, will become a wholly owned subsidiary of Exide Industries.
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