Amara Raja Batteries has received approval to sell and transfer its New Energy Business (NEB) comprising of the lithium Battery Pack Manufacturing, Cell and a state of-the-art R&D pilot plant for prototyping, manufacturing Li-ion cells, etc., through a slump sale arrangement on a going concern basis, to its Wholly Owned Subsidiary ‘Amara Raja Advance Cell Technologies (ARACT) and authorized officials of the company to execute the Business Transfer Agreement. The board of directors at its meeting held on January 25, 2023 has approved the same.
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.
