Other Private Equity/Strategic Investments
Himadri Speciality Chemical to acquire 40% stake in Invati Creations for Rs.45-Cr
Press Release Business Standard
Publicly-listed Himadri Speciality Chemical Ltd is to acquire a 40% stake in Invati Creations Pvt Ltd for INR 45.16 crore. Invati, founded by alumni from IIM Calcutta and IIT Kharagpur, has a focus on engineering lithium-ion electrode materials for efficient energy storage with higher energy density and longer battery life. Both firms are headquartered in Kolkata.As part of the deal, Himadri will partly acquire Invati’s stake by infusing INR 19.99 crore cash as growth capital, and the balance of INR 25.17 crore will be discharged through a share swap by way of issuance of 7,96,446 equity shares of the company, of face value INR 1 each, on a preferential basis to the promoters of Invati. Himadri would issue 1.08 crore convertible warrants at a price of INR 316, aggregating up to INR 343 crore, by way of a preferential issue to the promoters.
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