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Amara Raja Energy & Mobility invests EUR 20 million to increase stake in InoBat AS, Norway

21 Jun 2024 Evaluate

Amara Raja Energy & Mobility (ARE&M) has further invested EUR 20 million, which includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With the above, Amara Raja Energy & Mobility’s total holding will be around 9.32% of its equity stake in InoBat AS, including its previous investment of EUR 10 million. The Slovak company InoBat, specializes in research, development, and production of batteries for electric vehicles custom-designed to meet the specific requirements of global mainstream and specialist OEMs within the automotive, commercial vehicle, motorsport, and aerospace sectors, and has shown significant growth in the recent times.

This investment marks a pivotal step in Amara Raja's ongoing commitment to advancing sustainable energy solutions and enhancing its footprint in the energy and mobility sector. InoBat’s cutting-edge battery technology and advanced manufacturing capabilities align seamlessly with Amara Raja’s vision of a greener, more sustainable future, as part of which the company is setting up one of India’s largest gigafactories for Li-ion cell and battery pack manufacturing, the first phase of which is slated to be functional this year.

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.


Amara Raja Energy Share Price

778.45 5.80 (0.75%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Exide Inds 330.05
Amara Raja Energy 778.45
HBL Engineering 786.60
Eveready Inds. India 302.45
Indo-National 326.15
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