Himadri Speciality Chemical acquires 40% Stake in Invati Creations for Rs. 45.16 Cr
Summary
25.17 crores 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.As part of its strategic investment, Himadri will have two nominee directors on the Board of Invati , giving the company a significant influence and enabling close collaboration and synergy between the two companies.Himadris decision to invest in Invati, aligns with its vision of producing high-quality Lithium-ion (Li-ion) battery materials and reinforces its commitment in exploring innovative technologies in the battery material segment.Invati, founded by alumni from IIM Kolkata and IIT Kharagpur, has a strong focus on engineering Lithium-ion electrode materials for efficient energy storage with higher energy density and longer battery life and using groundbreaking nanotechnology biosciences to provide real-world solutions. It also engages in R&D of various molecules and nanotech solutions, addressing challenges in life-science verticals, designing technology for diverse industries such as agrochemical, animal health and energy storage.Invati 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.Commenting on the acquisition, Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said: We are excited about the potential of this collaboration in shaping a sustainable future. 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.Mukeshh Agarwal, Director, Invati Creations Private Ltd, further added, Having a leading global specialty chemical company join us as a strategic investor is a big step forward in our journey of innovation and invention. "With innovation at the heart of the partnership, both the companies are dedicated to driving meaningful change and propelling advancements in clean energy technologies. The combination of Himadris rich R&D expertise and manufacturing experience with Invatis innovative technologies positions them to contribute significantly to the evolving landscape of energy storage solutions.