Himadri Speciality Chemical Limited has informed the Exchange regarding Outcome of Board Meeting held on May 22, 2025.
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Himadri Speciality Chemical's board has approved acquiring a 16.24% stake in International Battery Company, Inc. (IBC), a Delaware-based manufacturer of prismatic lithium-ion battery cells, for a total cash consideration of USD 4.43 million (~INR 37.47 crores). The deal involves buying 600,000 common shares from an existing shareholder, subscribing to 2,100,000 common shares, and subscribing to 379,175 Series A Preferred Shares. The move marks the commercial deployment of Himadri's LFP cathode and anode materials and gives it access to IBC's South Korea manufacturing facility and upcoming Bengaluru Gigafactory. IBC is a relatively young company, incorporated in October 2022, with minimal turnover of just USD 6,189 in FY24. The transaction is expected to close within 30 days and is not a related-party deal.
This is a strategic minority investment into a lithium-ion battery cell maker that complements Himadri's materials business, potentially opening a new growth vertical in energy storage and EV battery supply. The size of the deal is relatively small (~37 crores), so immediate financial impact is limited, but it strengthens the company's positioning in the EV/battery value chain, which may be viewed positively by the market.