Anupam Rasayan Signs Rs 2,885 Cr Battery Chem Deal

Anupam Rasayan shares climbed as much as 1.86% intraday on Wednesday, touching a day high of Rs 1,286.40 on the NSE after signing a pact.

The speciality chemicals maker signed a preliminary supply agreement with a Spanish battery company. The stock opened at Rs 1,269.10, above its previous close of Rs 1,263.80.

Here’s what happened. Anupam Rasayan has inked a non-binding Letter of Intent with BASQUEVOLT S.A., a Spain-based maker of solid-state lithium batteries. Under the arrangement, the two firms will look at a long-term supply deal for a speciality chemical product used in battery manufacturing.

The numbers involved are sizeable. If things move forward, the deal could bring in cumulative revenue of around Rs 2,885 crore, or roughly $300 million, spread over a period of up to 10 years. That said, nothing is locked in yet.

The company was clear that this LoI is only a starting point, and any actual supply will depend on product development going well, followed by a separate, binding agreement down the line.

BASQUEVOLT itself builds batteries for electric vehicles, heavy transport, renewable energy storage and aviation, so this points to Anupam Rasayan deepening its footprint in electronics and EV-linked chemicals.

MD Anand Desai said the agreement fits the company’s broader push into the electronic chemicals space, adding that ongoing investment in R&D and manufacturing capability should help it capture more such opportunities going forward.

This isn’t a standalone business either. Anupam Rasayan already serves more than 75 customers globally, including 31 multinational firms, and runs six manufacturing plants across Gujarat with a combined capacity of about 30,000 tonnes.

The company’s work spans two broad areas: life sciences chemicals used in agrochemicals, pharma and personal care, and performance materials that cover electronics, EVs and polymers.

Shares were last seen trading at Rs 1,268.10 on the NSE at 13:59 pm on Wednesday, up 0.34% or Rs 4.30 for the day. The stock has pulled back around 4.46% since the start of the year, though it’s still holding a gain of nearly 9% over the past twelve months.

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