Himadri Speciality Chemical announced its acquisition of a 40% stake in Invati Creations, a Kolkata-based firm specializing in lithium-ion electrode materials. The deal, valued at Rs 45.16 crore (approximately USD 5.43 million), was finalized through a mix of cash and a share swap arrangement.
This strategic move follows closely on the company's announcement to establish India's first commercial production facility for lithium-iron-phosphate (LFP) cathode active material in Odisha. The project is estimated to cost Rs 1,125 crore (approximately USD 135.36 million), marking a significant step towards enhancing India's capabilities in lithium-ion battery materials.
Himadri's investment in Invati underscores its commitment to advancing high-quality lithium-ion battery materials and delving into cutting-edge technologies within the battery materials sector. Invati, founded by alumni from IIM Kolkata and IIT Kharagpur, is recognized for its patented and patentable technologies across various applications. This includes the development of a novel broad-spectrum antiviral drug molecule, illustrating the firm's innovative prowess.
