Clarios ARBL Holding LP is likely to divest is likely to sell its entire 14 percent stake in Amara Raja Batteries, the country's second-largest automotive battery maker, on Tuesday (July 18), sources in the know told CNBC-TV18
The shares are likely to be offloaded at a floor price of Rs 651 per share, sources privy to the developments told CNBC-TV18.
Amara Raja Batteries posted a 41 percent rise in net profit during the fourth quarter of 2022-23 to Rs 139 crore as compared to Rs 99 crore during the same period of the previous financial year.
The company’s revenue from operations saw an increase of 11 percent to Rs 2,429 crore in the first quarter, from Rs 2,181 crore during Q4 FY22.
Amara Raja caters to automotive and industrial demand for power storage, and manufactures lead-acid batteries, with Maruti Suzuki, Tata Motors, and Bajaj Auto among its clients.
Shares of Amara Raja Batteries Ltd ended at Rs 684.85, up by Rs 0.050, or 0.0073 percent on the BSE.
