Other Private Equity/Strategic Investments
Himadri speciality chemical to acquire 16.24%stake in US-based lithium-ion cell maker IBC for $4.4-M
Publicly listed Himadri Speciality Chemical is to acquire 16.24% stake in California, USA-based International Battery Company for USD 4.4 million (INR 37.47 crore). The purchase is through a combination of secondary purchase(6,00,000 shares), common stock subscription(21,00,000 shares) and Series A preference share ( 3,79,175 shares).Through this acquisition Himadri will commence the commercial deployment of its LFP Cathode active and anode materials. The company will also gain access to IBC’s manufacturing infrastructure, expertise in materials science, supply chain management, and global market presence.Founded by Priyadarshi Panda, Raj Singh, Venkatesh Valluri, and Sasi Kuppannagari in 2022, IBC makes large-sized rechargeable Prismatic Li-ion Nickel Manganese Cobalt (NMC) batteries.
In Jan-24, International Battery Company had attracted about USD 35 M from Beenext, RTP Global, Shastra VC, others.For FY24, International Battery Company had reported about INR 0.08Cr in Operating Income and about INR 4.17Cr in Net Loss.In Apr 2025, Himadri Speciality Chemical had acquired a 60% stake in Trancemarine and Confreight Logistics India for INR 4.23 crore.
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