Himadri Speciality Chemicals has made an additional investment in Sicona Battery Technologies Pty Ltd. The investment has been made through the subscription of compulsorily convertible notes (CCNs), the company said.
Himadri Speciality has invested Australian Dollars 25,59,000 (around ₹18 crore) in cash for this tranche, subscribing to 25.59 lakh CCNs with a face value of one Australian Dollar each.
Focus on EV battery materials and technology expansion
The additional investment is in line with Himadri’s vision to become the world’s largest EV battery material company. New South Wales-based Sicona Battery Technologies produces silicon-carbon anode materials that supercharge Lithium Ion batteries. The battery materials produced by Sicona deliver a 20 per cent increase in energy density and allow batteries to charge 40 per cent faster. Sicona Battery Technologies has 126 patents globally.
Anurag Choudhary, Chairman and MD, Himadri Speciality Chemicals, said the investments in Sicona Battery Technologies is part of an exclusive technology licensing partnership that grants Himadri the rights to access, localise, and commercialise Sicona’s proprietary silicone-carbon anode technology in India.
Himadri is currently expanding capacity to meet increased demand from cell manufacturers across different stages of sample approvals. The capacity expansion is scheduled to be completed by Q2 FY27.
Holding in Sicona may rise to 24 per cent
The company had earlier invested AUD 1,41,94,000 (about ₹98 crore) in cash to subscribe to 1,41,94,000 CCNs. Consequently, the company now cumulatively holds 1,67,53,000 CCNs in Sicona. The remaining investment for 16,94,000 CCNs is scheduled to be made in agreed tranches at a later date.
The CCNs are convertible into shares of Sicona in accordance with the agreed terms between the parties. With these planned investments, finally, the holding in Sicona could go up to 24 per cent on conversion.
Investment in Sicona could be a part of the forward integration being planned by Himadri Speciality Chemicals.
Shares of the company were up one per cent at ₹590 on Thursday.
Published on May 21, 2026