Amara Raja promoters to settle shares into family trusts

Dr. Ramachandra Naidu Galla, a promoter of Amara Raja Energy & Mobility, will transfer 214,44,157 equity shares (99.53% of RNGalla Family Private Limited) into RNG Jayadev Trust, RNG Ramadevi Trust, Jayadev Trust and Ramadevi Trust. RNGalla Family Private Limited currently holds 32.86% shareholding in ARE&M. SEBI has granted exemption under Regulation 11(5) of the SAST Regulations, 2011, for the transfer. The settlement will be executed off-market and is intended to facilitate intergenerational succession and family well-being. The new family trusts will form a part of the promoters of ARE&M and Dr. Ramachandra Naidu Galla (Part of Promoter of ARE&M) will be settling shares into these family trusts. The company disclosed that there would be no change in the shareholding pattern of Amara Raja Energy & Mobility as a result of the transaction.