Amara Raja Batteries to invest Rs 77 crore in Log 9 Materials Scientific Private Limited
Amara Raja Group

Amara Raja Batteries Limited (‘Company’) as a part of its strategic initiatives has agreed to invest Rs.77.00 crore in securities of Log 9 Materials Scientific Private Limited (“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. Cost of acquisition or the price at which the shares are acquired is Rs.77.00 crore.

Log 9 is currently having competencies across materials, electrode, cell, and pack level fabrication of energy storage technologies. 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.

Log 9 is a Bengaluru based advanced battery and deep-tech start-up founded by Dr. Akshay Singhal, Mr. Kartik Hajela and Mr. Pankaj Sharma incorporated in 2015. Turnover of last three years – FY2022:- Rs. 24.56 cr, FY2021:- Rs. 7.41 cr, FY2020:- Rs. 0.32 cr