Himadri Speciality to acquire 16.24% stake in US-based International Battery Company

India’s largest speciality carbon black maker, Himadri Speciality Chemical, on Thursday said its board has approved acquisition of 16.24 per cent stake in US-based lithium-ion batteries maker International Battery Company (IBC) for a cash consideration of around ₹37.47 crore.

In a stock exchange filing, Kolkata-based Himadri Speciality Chemical said this proposed investment in IBC is “a significant milestone” for it, marking the start of the commercial deployment of its LFP Cathode active and anode materials.

“Through this alliance, Himadri also gains strategic access to IBC’s robust manufacturing infrastructure in South Korea and its upcoming Gigafactory in Bengaluru,” it said.

The proposed stake acquisition will give Himadri representation on IBC’s board. IBC is a leading innovator in prismatic cell technologies designed for energy storage and mobility applications across global markets. It operates a 50 MWh lithium-ion battery cell facility in South Korea, which began production in 2023, and is developing a Gigafactory in Bengaluru through its Joint Venture with Mahanagar Gas Limited (MGL) The Bengaluru Gigafactory is scheduled to commence operations by the fourth quarter this fiscal.

Commenting on the partnership, Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “We are pleased to announce our strategic investment of $4.43 million for a 16.24 per cent stake in IBC, a trailblazer in next-generation battery technologies. This partnership marks a pivotal step in Himadri’s global clean-tech strategy and our entry into the LiB component materials market. Anode and cathode materials are the most critical components of a lithium-ion cell, accounting for nearly 65 per cent of its total cost and directly influencing its performance and reliability.”

Choudhary said this is a win-win collaboration—one that brings together deep material science and advanced battery technology to shape the future of sustainable energy. “Together, we are building a scalable, high-impact ecosystem that will power the next wave of clean mobility and energy solutions not only in India but across the globe,” he added.

Priyadarshi Panda, Founder and CEO, International Battery Company, said, “We are excited to have Himadri join us as a strategic partner. Their deep expertise in LFP cathode active and anode materials and forward-looking global approach makes them a strong fit for our long-term goals. This collaboration comes at a pivotal time as we scale our manufacturing and broaden our reach through a strong roadmap and truly emerge as a global chemistry agnostic product company.”

“With Himadri’s backing, we’re confident in our ability to accelerate innovation and deliver high-performance cell technologies that meet the growing demands of the mobility and energy storage sectors. Furthermore, Himadri’s deep expertise in materials chemistry combined with IBC’s,” Panda added.

Published on May 22, 2025