Himadri Speciality Chemical Ltd to Acquire 16.24% Stake in International Battery Company, Inc. for USD 4.43 Million

Himadri Speciality Chemical Ltd (HSCL) has approved the acquisition of a 16.24% stake in International Battery Company, Inc. (IBC), a Delaware corporation. The acquisition will be made through the purchase of common stock from an existing shareholder, subscription of common stock, and subscription of Series A Preferred Stock, for a total purchase consideration of USD 4.43 Million (INR 37.47 Crores approximately). This partnership is a significant milestone for HSCL, marking the start of the commercial deployment of its LFP Cathode active and anode materials. It also provides strategic access to IBC’s robust manufacturing infrastructure in South Korea and its upcoming Gigafactory in Bengaluru. The acquisition is expected to be completed within 30 days from the execution of each transaction document.