Himadri Speciality Chemical acquires 40% stake in Invati Creations

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Himadri Speciality Chemical has announced the acquisition of 40% stake in Invati Creations for a consideration of INR 45.16 crore.

Invati, founded by IIM Kolkata and IIT Kharagpur alumni, has a strong focus on engineering Lithium-ion electrode materials for efficient energy storage with higher energy density and longer battery life. It holds multiple patented and patentable technologies for novel molecule inventions spanning various applications, including the pioneering development of the first-ever broad-spectrum antiviral drug molecule.

Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical Ltd, said, “Our partnership with Invati emphasizes the vision to positively impact the storage efficiency, charging speed, and battery lifespan of Lithium-ion batteries. Their technology complements our portfolio in the battery material segment and we foresee an elevation in the performance, safety, and recyclability of batteries, with a focus on contributing to clean energy technologies and addressing a substantial portion of the global demand.”

Invati Creations’ research team is focusing on making Lithium-iron-phosphate (LFP) batteries last longer and safer. It is also testing new cathode materials for faster charging and has developed a unique cathode that maintains its integrity over many charging cycles. The company is exploring synthesis and application of novel materials for the anode, including graphene and nano-porous graphite.

“Himadri’s rich R&D expertise and vast experience in manufacturing will be invaluable as we move forward in our journey. This collaboration comes at a crucial time aligned with the rapid growth of the global battery market,” said Mukeshh Agarwal, director of Invati Creations.

As part of the deal, Himadri will partly acquire Invati’s stake by infusing INR 19.99 crore of cash as growth capital in Invati. The balance consideration of INR 25.17 crore will be discharged through a share swap by way of issuance of 7,96,446 equity shares of the company of face value INR 1 each, on preferential basis to the promoters of Invati.

Himadri will have two nominee directors on the Board of Invati.

 

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