Himadri Speciality Chemical Limited has informed the Exchange about update on investment in Sicona Battery Technologies Pty Ltd
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Awaiting price reaction for this filing.
Himadri Speciality Chemical has provided an update on its previously announced investment in Australian battery tech firm Sicona Battery Technologies. On May 13, 2025, the Board had approved investing AUD 15 million (around ₹80 crore) through 1.5 crore Compulsorily Convertible Notes (CCNs) to be subscribed in tranches over 18 months. As of this filing on May 17, 2025, the company has already deployed AUD 4.17 million (about ₹22 crore) in cash towards the first tranche of 41.71 lakh CCNs at face value of AUD 1 each. This is part of Himadri's strategic push into the lithium-ion battery materials space, where Sicona specialises in silicon-based anode technology. The remaining investment of around AUD 10.83 million is expected to flow in over the next 18 months in agreed tranches.
Positive for long-term shareholders as this deepens Himadri's exposure to the fast-growing EV battery materials segment through a technology-focused investment. Near-term impact on stock is likely limited since this is a phased investment rather than a large one-time outflow.