Clarios ARBL Holding LP on Tuesday offloaded its entire 14 per cent stake in automotive and industrial battery maker Amara Raja Batteries for Rs 1,561 crore through an open market transaction.
     
Following the stake sale, Clarios exited the firm. It is a subsidiary of Brookfield Business Partners which is ultimately owned and controlled by US-based PE firm Brookfield Asset Management.
     
According to the bulk deal data available with the National Stock Exchange (NSE), Clarios ARBL Holding LP sold 2,39,13,750 shares of Amara Raja Batteries.
     
The shares were disposed of at an average price of Rs 652.97 apiece, taking the aggregate transaction value to Rs 1,561.50 crore.
     
As of the June quarter, Clarios held more than 2.39 crore shares, equivalent to 14 per cent stake in Amara Raja Batteries.
     
Kotak Mahindra Mutual Fund (MF), Nippon India MF, Tata AIA Life Insurance Company, Pinebridge INV Asia, BNP Paribas Arbitrage and Societe Generale have acquired more than 1.20 crore shares at an average price of Rs 652 per scrip. This took the combined deal value to Rs 787.42 crore.
     
Shares of Amara Raja Batteries plunged 6.43 per cent to close at Rs 640.95 per piece on the NSE.
     
In May 2021, Clarios divested a 10 per cent stake in Amara Raja Batteries for over Rs 1,276 crore through an open market transaction.
     
Post the transaction, Clarios shareholding had come down to 14 per cent from 24 per cent stake in the company.