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Kabra Extrusion Technik Ltd — M&A Activity 2022
Mar 14, 2022
62521_rns_2022-03-14_24df5132-847a-4d15-8cd9-0b784463ac9f.pdf
M&A Activity
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KET/SEC/SE/2021-22
BSE Limited
Floor 25, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001
March 14, 2022
National Stock Exchange India Limited, Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai-400051.
Scrip Code : 524109
Stock Code : KABRAEXTRU
Dear Sirs,
Sub.: Press Release
We enclose herewith Press Release titled ‘ Battrixx acquires 100% stake in Varos Technology to drive Battery management systems and IOT protocols for EV infrastructure ’ being issued by the Company.
Please take the same on your record.
Thanking you, Yours faithfully,
For Kabra Extrusiontechnik Limited
ANTONY Digitally signed by ANTONY PIUS ALAPAT Date: 2022.03.14 12:41:41 +05'30'
PIUS ALAPAT
Antony Alapat Company Secretary
www.kolsite.com A Kolsite Group Company Kabra Extrusiontechnik Ltd. Fortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall, Andheri (West), Mumbai - 400 053. Maharashtra, India. Phone : +91-22-26734822/23/24/25 Fax : +91-22-2673 5041 Email : [email protected]
Works 1 : Kabra Industrial Estate, Kachigam, Daman - 396210. India
Works 2 :
Survey No. 259/1 to 5, 260/1 to 6, 265/3, Costal Highway, Dunetha, Daman – 396210. India. Tel. : +91-260-2241 401-3 / 2242 616 Fax : +91-260-2241 965 Email : [email protected] CIN - L28900MH1982PLC028535
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Battrixx acquires 100% stake in Varos Technology to drive Battery management systems and IOT protocols for EV infrastructure
Mumbai, 14[th] March, 2022 : Battrixx, the leading manufacturer of lithium-ion battery packs for e-vehicles, today announced that it has acquired 100 per cent stake in Pune-based Varos Technology Pvt. Ltd. pioneers in developing and leveraging IOT tools for EV infrastructure and battery management systems.
Battrixx, the battery division of Kabra Extrusiontechnik Ltd. which is a part of Kolsite Group, has been making inroads into the two and three-wheeler EV segment. To facilitate its continuous growth in the overall segment and create a synergy between Battrixx products and services, Varos Technology will anchor its capabilities to develop end-to-end Battery Management Systems by leveraging cloud-based Artificial Intelligence (AI) driven analytic tools to help predict battery life and monitor battery performance. The Machine Learning (ML) algorithms will provide constant inputs in adjusting and improving battery performance.
“We are excited to welcome Varos Technology and its capable team into the Battrixx family. The collaboration with Varos Technology follows a recent proposal of Finance Minister Nirmala Sitharaman for the formulation of a battery swapping policy for EV charging stations. We expect very strong business synergies to be generated through this acquisition. Battrixx's vision of developing and producing green energy systems and solutions for OEMs as well as swapping station operators would be strengthened with strong IOT capabilities and tools of Varos,” said Mr. Anand Kabra, Vice Chairman and Managing Director, Kabra Extrusiontechnik.
About Battrixx:
Battrixx is positioned to provide a wide range of advanced lithium-ion battery packs with smart Battery Management System (BMS) to power the growth of India’s transition to green energy storage and electric transportation. Battrixx offers safe, light weight batteries that are highly efficient with regards to maintenance, fast charging as well as energy efficiency. Battrixx, the battery division of Kabra Extrusiontechnik Ltd. (KET) which is a part of the Rs. 1,000 crore Kolsite Group.
https://www.battrixx.com/ https://www.battrixx.com/
About Kabra Extrusiontechnik Ltd. (KET)
It is India’s largest manufacturer of plastic extrusion machinery for more than 4 decades and recently ventured into manufacturing of Lithium-ion Battery Packs. The company is a part of the well-known Kolsite Group.
About Varos Technology
Varos Technology Pvt. Ltd., a leading technology product and service provider in the field of IoT. Varos Technology is focused on building technologies that improve the life and performance of lithium-ion batteries for power electric vehicles and energy storage systems.
Digitally signed by ANTONY ANTONY PIUS ALAPAT PIUS ALAPAT Date: 2022.03.14 12:44:34 +05'30'