Himadri Speciality Chemical Limited (HSCL) announced on 24 June 2025 that it has paid the total purchase consideration for acquiring a 16.24% stake in International Battery Company, Inc. (IBC).
IBC is a Delaware corporation.
The acquisition is for a 16.24% stake on a fully diluted basis.
The total purchase consideration paid is USD 4.43 Million (approximately ₹3.68 crore) in cash.
The payment covers:
Purchase of 600,000 (Six Lakhs) common stock from an existing shareholder.
Subscription of 2,100,000 (Twenty-One Lakhs) common stock.
Subscription of 379,175 (Three Lakhs Seventy-Nine Thousand One Hundred Seventy-Five) Series A Preferred Stock.
This transaction is a continuation of an earlier announcement made on 22 May 2025, where the Board of Directors had approved the acquisition.