Himadri Speciality Chemical Limited (Himadri), a global specialty chemical conglomerate has announced the acquisition of 40% stake in Invati Creations for a consideration of Rs. 45.16 crores.
As a part of the deal, Himadri will partly acquire Invati’s stake by infusing Rs. 19.99 crores of cash as growth capital in Invati and the balance consideration of Rs. 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 Rs 1 each, on preferential basis to the promoters of Invati.
As part of its strategic investment, Himadri will have two nominee directors on Invati’s board, giving the company a significant influence and enabling close collaboration and synergy between the two companies.
Invati, founded by Bhuvam Pasham, an alumni from IIM Kolkata and IIT Kharagpur, focuses on engineering Lithium-ion (Li-ion) electrode materials for efficient energy storage with higher energy density and longer battery life and using nanotechnology biosciences to provide real-world solutions. It also engages in research and development 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.
Himadri’s decision to invest in Invati aligns with its vision of producing high-quality Li-ion battery materials and reinforces its commitment in exploring innovative technologies in the battery material segment.
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 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 Li-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.”
Mukeshh Agarwal director of Invati Creations, added, “Our research team is focusing on making Lithium-iron-phosphate (LFP) batteries last longer and safer. We're also testing new cathode materials for faster charging and have developed a unique cathode that maintains its integrity over many charging cycles.
