Himadri Chem completes 16% stake buy of International Battery for $4.4 mln
This story was originally published at 21:12 IST on 24 June 2025
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NEW DELHI – Himadri Speciality Chemical Ltd. Tuesday said it has paid $4.43 million towards the acquisition of 16.2% stake in US-based International Battery Co. Inc. In a stock exchange filing, the company said it paid a total $4.43 million towards purchase of 600,000 common stock of International Battery Co. from an existing shareholder, subscription of 2.1 million common stock of the US company, and subscription of 379,175 Series A Preferred stock of the company.
International Battery Co. primarily manufactures chemistry-agnostic prismatic lithium-ion cells. Himadri Speciality Chemical's board had approved the acquisition on May 22 for a total consideration of $4.43 million or around INR 374.7 million, and had said the acquisition will be completed within 30 days.
In its May 22 announcement, Himadri Speciality Chemical had said the acquisition would mark "the start of the commercial deployment of its LFP Cathode active and anode materials." The company had said it would gain access to International Battery Co.'s manufacturing infrastructure in South Korea and upcoming Gigafactory in Bengaluru in India.
On Tuesday, shares of Himadri Speciality Chemical ended down 0.2% at INR 440.05 on the National Stock Exchange. End
US$1 = INR 85.98
Reported by Rajesh Gajra
Edited by Ashish Shirke
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