Exide Industries Limited has announced a leadership transition at its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), with Pravin Ramchandra Saraf appointed as Managing Director and Chief Executive Officer, effective December 22, 2025.
The appointment coincides with a ₹180 crore equity infusion into EESL through a rights issue, underscoring Exide Industries’ long-term commitment to strengthening its lithium-ion battery manufacturing and EV energy storage capabilities.
Saraf succeeds Mandar V. Deo and brings continuity and deep institutional knowledge, having previously served as Executive Director at Exide Industries and as a non-executive director on the board of EESL.
With this latest investment, Exide Industries’ total commitment to EESL stands at ₹4,202 crore, while continuing to retain 100 percent ownership of the subsidiary. The fresh capital will be utilised to advance the development of EESL’s greenfield lithium-ion battery manufacturing facility in Bengaluru, as well as to support ongoing operational requirements.
