Himadri Speciality to buy 16.24% stake in US-based lithium battery firm IBC; stock jumps 4%

Himadri Speciality Chemical Ltd (HSCL) has announced its strategic investment of $4.43 million (around Rs 37.47 crore) to acquire a 16.24% stake in International Battery Company, Inc (IBC), a US-based lithium battery firm.

IBC specialises in chemistry-agnostic prismatic lithium-ion cells and operates a 50MWh lithium-ion battery cell facility in South Korea. It is also developing a Gigafactory in Bengaluru, India, scheduled to be operational by Q4 FY26. This facility, which will cater to domestic and global markets, is part of a joint venture with Mahanagar Gas Limited, a subsidiary of GAIL, where MGL holds a 44% stake.

Through this partnership, Himadri said it gains strategic access to IBC’s manufacturing infrastructure in South Korea and the upcoming Gigafactory in Bengaluru. This alliance allows Himadri to enhance its global reach by tapping into IBC’s customer base across the US, India, and East Asia. Meanwhile, IBC secures a dependable supply of high-quality anode and cathode materials, critical for battery performance and cost.

The collaboration is further strengthened by sharing IBC’s Industrial AI platform, facilitating faster innovation and co-development of advanced materials. The successful commercialisation of Himadri’s LiB materials through IBC’s platforms is expected to open significant global market opportunities, positioning Himadri as a key supplier in the international battery materials value chain.

IBC has already made strides in the electric vehicle market, with over 500 EVs using its battery packs and an open order book of 4,300 electric two-wheelers from six customers. The Bengaluru Gigafactory will support this expansion and cater to the growing demand from MGL’s vehicles, reinforcing the collaboration’s strategic vision.

This alliance marks a pivotal moment in India’s clean energy ecosystem by establishing advanced battery cell manufacturing and materials innovation domestically. It contributes to the creation of a self-reliant, globally competitive energy storage value chain, reinforcing India's role in the global energy transition.

Commenting on the partnership, Anurag Choudhary, CMD & CEO of Himadri Speciality, stated, "We are pleased to announce our strategic investment 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 (Lithium-ion Battery) component materials market.”

The collaboration between Himadri and IBC underscores the growing demand for scalable and sustainable battery technologies, particularly in mobility and energy storage sectors. This partnership positions both companies to meet the increasing global demand for high-performance energy storage solutions.

On the stock-specific front, shares of the speciality chemical manufacturer climbed 3.51 per cent to hit a high of Rs 481.15 in Thursday's trade.