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Amara Raja Batteries informs about updates

29 Dec 2021 Evaluate
Amara Raja Batteries has informed that the Company as a part of its strategic initiatives to venture into New-Energy Business and EV Batteries, has agreed to invest by way equity and convertible instruments in InoBat Auto AS, Oslo Norway (‘InoBat Auto’) (holding company of InoBat Auto JSA, Banska Bystrica, Slovak Republic, collectively referred as ‘Group’) in one or more tranches and has executed the necessary ‘Transaction Documents’ on 27/28 December, 2021 with InoBat Auto AS, Norway and InoBat Auto JSA, Slovak Republic (IST & CET time zones). Subject to the terms of the Transaction Documents, the Company also has right to participate and subscribe up to Euro 10 Millions in InoBat Auto’s further fund raising and subsequent listing at stock exchange, regulated market and/or multilateral trading facility. The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure I. 

The above information is a part of company’s filings submitted to BSE.

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