Amara Raja Batteries Limited (BSE:500008) agreed to acquire Amara Raja Power Systems Limited from Rngalla Family Private Limited for INR1.33 billion on May 23, 2023. The consideration will be paid in cash. Amara Raja Power Systems will be a Wholly Owned Subsidiary of Amara Raja Batteries. Amara Raja Power Systems has revenues of INR 1.842 billion, and EBITDA of INR 205 million for financials year of 2023. The proposed acquisition by ARBL is subject to meeting the completion of conditions precedents to the satisfaction of ARBL, customary closing conditions, necessary representations, warranties, and indemnities as per the transaction/ binding agreements. Within 3 months subject to fulfilment of Conditions Precedents and other terms agreed in Transaction/binding agreements. Ernst & Young Merchant Banking Services LLP, has issued a Valuation Report of ARPSL, Ernst & Young, LLP has conducted the Financial & Tax due diligence. Agram Legal Consultants has conducted legal due diligence for the same.

Amara Raja Batteries Limited (BSE:500008) completed the acquisition of Amara Raja Power Systems Limited from Rngalla Family Private Limited on September 29, 2023.