| Log in

Exide Buys Out Leadage Alloys

13 August, 2010

Stored battery maker Exide Industries Ltd has consolidated its holding in Bangalore-based Leadage Alloys India Ltd by acquiring the remaining 49% stake. Leadage, which will now become Exide’s wholly-owned subsidiary, is a manufacturer and supplier of lead and its various alloys.

Exide, majority owned by Rajan Raheja Group, acquired a 51% stake in the firm in 2008 for Rs 35 crore. Besides Exide, Leadage supplies to players Amara Raja Batteries and Kirloskar Batteries.

Exide had raised $120 million or Rs 540 crore through a qualified institutional placement earlier this year. The company reported a 12% rise in turnover to Rs 3,794 crore for FY10 with net profit during the same period jumping 89% to Rs 537 crore.

Shares of Exide jumped by 2.2% reaching Rs 145 today before tempering down to Rs 143 levels.


Leave Your Comment
Exide Industries to buy remaining 50% stake in ING Vysya Life Insurance for $102.5M

Exide Industries to buy remaining 50% stake in ING Vysya Life Insurance for $102.5M

Bhawna Gupta 5 years ago
Nalanda Capital-backed Exide Industries Ltd (EIL), a manufacturer of automotive...
Nalanda Capital Ups Stake In Exide To 5%; Exposure Crosses $100M

Nalanda Capital Ups Stake In Exide To 5%; Exposure Crosses $100M

TEAM VCC 6 years ago
Nalanda Capital has increased its holdings in Exide Industries to 5.01 per cent,...
Manulife close to buying 26% in ING Vysya Life Insurance for $75M

Manulife close to buying 26% in ING Vysya Life Insurance for $75M

Pooja Sarkar 4 years ago
Canadian financial services major Manulife Financial is close to striking a deal...
No Comments

Exide Buys Out Leadage Alloys

Powered by WordPress.com VIP