Amara Raja Energy & Mobility Limited, India’s Leading battery manufacturer invests ₹179.08 crores in European Tech Company named “Inobat”, the company informed the exchange about acquisition on 20 June. The Company acquired 5.55 million equity shares of ‘InoBat’ at the price of 3.603 Euro per share.
The Acquisition includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With the above, Amara Raja Energy & Mobility Limited’s total holding will be around 9.32% of its equity stake in InoBat AS, including its previous investment of 10mn Euros.
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Vikramadhitya Gourineni, Executive Director of Amara Raja, in a statement, said: “Our investment in InoBat underscores our commitment to being at the forefront of the energy revolution. InoBat’s innovative approach to battery technology complements our mission to deliver sustainable and cutting-edge energy solutions. Together, we aim to accelerate the transition to electric mobility and contribute significantly to global sustainability goals.”
About InoBat
InoBat AS is a holding company of InoBat Auto JSA. InoBat Auto JSA is incorporated in Slovokia in 2019. It specializes in research, development and production of batteries for electric vehicles.
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