InoBat AS announced that it will issue 5,575,950 shares at a price of INR 322.861 for gross proceeds of INR INR 1,800,000,299 on June 20, 2024. The transaction includes participation from returning investor Amara Raja Energy & Mobility Limited for 4.5% stakes, will hold 9.32% stakes post completion the transaction. The transaction is expected to close by July 31, 2024, contingent upon meeting the Conditions Precedents outlined in the Transaction Documents.