Himadri Speciality Chemical Limited (Himadri), a leading global specialty chemical conglomerate, has disclosed the acquisition of a 40% stake in Invati Creations Private Limited (Invati) for a total consideration of Rs. 45.16 crores.
In this agreement, Himadri will partially procure Invati’s stake by injecting Rs. 19.99 crores as growth capital, while the remaining consideration of Rs. 25.17 crores will be met through a share swap. This will involve the issuance of 7,96,446 equity shares of Himadri Speciality Chemical Limited, each with a face value of INR 1/-, on a preferential basis to Invati’s promoters.
As part of its strategic investment, Himadri will nominate two directors to Invati’s Board, thereby gaining significant influence and facilitating close collaboration and synergy between the two entities.
Invati, established by alumni from IIM Kolkata and IIT Kharagpur, specializes in engineering Lithium-ion electrode materials for efficient energy storage, incorporating cutting-edge nanotechnology biosciences to offer practical solutions. It also focuses on researching and developing various molecules and nanotech solutions, catering to challenges in life science sectors and designing technology for diverse industries such as agrochemicals, animal health, and energy storage. Invati holds several patented and patentable technologies for innovative molecule inventions, including pioneering the development of the first-ever broad-spectrum antiviral drug molecule.
Himadri’s decision to invest in Invati aligns with its vision of manufacturing high-quality Lithium-ion (Li-ion) battery materials and underscores its commitment to exploring innovative technologies in the battery material segment.
In response to the acquisition, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd, expressed enthusiasm about the collaboration’s potential in shaping a sustainable future. He emphasized their partnership with Invati as a step towards enhancing the efficiency, speed of charging, and lifespan of Lithium-ion batteries. Mr. Choudhary highlighted the complementary nature of Invati’s technology with Himadri’s portfolio in the battery material segment. He anticipated improvements in battery performance, safety, and recyclability, emphasizing their commitment to clean energy technologies and addressing global demand.
Mr. Mukeshh Agarwal, Director of Invati Creations Private Ltd, welcomed Himadri’s investment as a significant milestone in their innovation journey. He outlined Invati’s focus on enhancing Lithium-iron-phosphate (LFP) battery longevity and safety, along with exploring new cathode materials for faster charging. Mr. Agarwal highlighted their research on novel materials for the anode, including graphene and nano-porous graphite, aiming for comprehensive advancements in battery technology. He underscored the value of Himadri’s R&D expertise and manufacturing experience, emphasizing the collaboration’s timely alignment with the growing global battery market.
Both companies share a commitment to driving meaningful change and advancing clean energy technologies. Their collaboration combines Himadri’s R&D proficiency and manufacturing capabilities with Invati’s innovative technologies, positioning them to make significant contributions to the evolving landscape of energy storage solutions.