Himadri Speciality Chemical Limited has informed the Exchange regarding a press release dated May 22, 2025, titled "Himadri Invests in IBC to Drive Global Li-ion Battery Materials Growth and Clean Energy Leadership".
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Himadri Speciality Chemical has announced a strategic investment of USD 4.43 million (approximately ₹37.47 crores) to acquire a 16.24% stake in International Battery Company (IBC), a US-based maker of prismatic lithium-ion cells. Through this deal, Himadri gets board representation in IBC and marks the commercial deployment of its LFP cathode active and anode materials. IBC operates a 50MWh facility in South Korea (running since 2023) and is building a Gigafactory in Bengaluru via a joint venture with Mahanagar Gas Limited (a GAIL subsidiary), expected to start by Q4 FY26. IBC already has over 500 EVs powered by its NMC-based Prabal 1000 cells and an open order book of 4,300 electric two-wheelers from six customers. The partnership also gives Himadri access to IBC's proprietary Industrial AI platform for faster innovation.
This is a positive development for Himadri shareholders as it opens a direct commercial route into the global lithium-ion battery materials market, leveraging IBC's manufacturing footprint in South Korea and India. The deal positions Himadri as a key materials supplier in the international battery value chain, though the investment size (₹37 crores) is relatively modest and near-term revenue impact may be limited until IBC's Bengaluru Gigafactory ramps up.