Amara Raja Batteries as a part of its strategic initiatives has agreed to invest Rs 77 crore in securities of Log 9 Materials Scientific (Log 9) in one or more tranches and has executed the necessary Transaction Documents on August 24, 2022. The proposed investment including the investments, previously made would entitle the Company, to a stake of 15.38% (on fully diluted basis) in Log 9.
The company's investment is a part of its focus to venture into new green technologies / solutions. These initiatives will include expansion and investment that will help the Company maintain technological & business leadership in the Energy & Mobility space, apart from creating new growth avenues.
Amara Raja Batteries is the flagship company of the group and is engaged in manufacturing of industrial and automotive batteries. The company was first to introduce Valve Regulated Lead Acid (VRLA) batteries with three year warranty in industrial and automotive applications.
