Neogen Chemicals Limited has informed the Exchange about Arrangements for strategic decision - Intimation of execution of Joint Venture Agreement by and between Neogen Ionics Limited and Morita Investment Limited
NEOGEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Neogen Chemicals' wholly owned subsidiary Neogen Ionics Limited (NIL) has signed a Joint Venture Agreement with Morita Investment Limited (MIL), a wholly owned subsidiary of Japan's Morita Chemicals Industries Co. Limited. The JV will operate through a new entity called Neogen Morita New Materials Limited (NML), focused on production, development, and sale of solid LiPF6 salt — a key raw material used in lithium-ion battery electrolytes. NIL will hold a minimum 80% in NML while MIL will hold up to 20%, with the manufacturing facility planned at Pakhajan, Gujarat. The investment amount will be decided after detailed engineering studies. This is described as one of the first India-Japan JVs in the lithium-ion battery materials space, giving Neogen access to Morita's 30+ years of global LiPF6 technology and international customer base.
This is a positive strategic development for Neogen Chemicals shareholders — it gives the company access to globally proven Japanese LiPF6 technology, strengthens its position in the fast-growing lithium-ion battery materials segment, and provides a pathway to international markets and global battery customers. Neogen retains majority control (≥80%) of the JV entity, ensuring strategic autonomy while gaining a marquee foreign partner.