Himadri Speciality Chemical Limited has invested an additional USD 0.66 million to acquire 6,00,000 common stock shares of International Battery Company, Inc. (IBC), a Delaware corporation. The Board of Directors had approved the investment in common and preferred stock of IBC on 22 May 2025. The transaction was completed on 18 June 2026.
Himadri previously invested USD 5.43 million in cash in IBC, holding a 17.29% stake on a fully diluted basis. The aggregate holding after the latest investment stands at 20.47% on a fully diluted basis across common and preferred stock, comprising 17.46% in common stock and 3.01% in preferred stock. The total cost of acquisition for the 20.47% stake amounts to USD 6.09 million.
IBC is engaged in the manufacturing of chemistry-agnostic prismatic lithium-ion cells and technological development. Incorporated on 24 October 2022 and headquartered in Milpitas, California, the company reported nil turnover for financial years ending 31 December 2023, 2024, and 2025.
The investment provides Himadri access to IBC's manufacturing infrastructure in South Korea and its upcoming Gigafactory in Bengaluru. The partnership marks the start of commercial deployment of Himadri's LFP cathode active and anode materials. IBC secures a reliable supply of anode and cathode materials critical to battery performance.
The acquisition does not fall within related party transactions. Promoters and promoter group have no interest in IBC beyond their shareholding in Himadri Speciality Chemical Limited. No governmental or regulatory approvals were required for the acquisition.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.