Himadri Speciality Chemical Limited announced on May 19 that it has completed a further investment of AUD 2.56 million (approximately Rs. 17.55 crore) in Sicona Battery Technologies. The transaction was executed in cash through the subscription of 25.59 lakh compulsorily convertible notes at a face value of one Australian dollar each. This marks the latest tranche of a broader investment plan originally approved by the board of directors on May 13, 2025.
Following this transaction, the cumulative holding of the company in Sicona stands at 1.67 crore compulsorily convertible notes. The firm had previously invested AUD 14.1 million (approximately Rs 97 crore) to acquire 1.41 crore notes in the battery technology company. According to the regulatory filing submitted to the stock exchanges, a final balance of 16.94 lakh notes remains to be subscribed in upcoming tranches under the agreed terms.
The company clarified that the current investment structure utilizing convertible notes does not immediately confer any additional voting rights or operational control over Sicona. These financial instruments are structured to be converted into equity shares of the firm at a later stage based on the predefined terms of the agreement.