Himadri Speciality Chemical Limited has informed the Exchange about Acquisition of 16.24% stake of International Battery Company, Inc.
HSCL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Himadri Speciality Chemical has approved the acquisition of a 16.24% stake in International Battery Company, Inc. (IBC), a US-based Delaware corporation that manufactures lithium-ion cells, for USD 4.43 million (approximately INR 37.47 crores) in cash. The deal involves buying 600,000 common shares from an existing shareholder, subscribing to 2,100,000 new common shares, and subscribing to 379,175 Series A Preferred Shares. IBC has manufacturing infrastructure in South Korea and is setting up a Gigafactory in Bengaluru, while Himadri will supply its LFP cathode active and anode materials as part of this partnership. The target company is relatively new (incorporated October 2022) with negligible turnover of just USD 6,189 in FY24, and the deal is expected to close within 30 days.
This is a strategic partnership that marks the commercial rollout of Himadri's LFP cathode and anode materials, giving it access to battery cell manufacturing and a Bengaluru Gigafactory. While the deal size is small relative to Himadri's overall scale, it positions the company to tap into the growing lithium-ion battery market and strengthens its role in the EV and energy storage value chain.