Anupam Rasayan Signs ₹25000 Crore LOI With BASQUEVOLT, To Supply Specialty Chemicals Under Long-Term Strategic Partnership

Mumbai: Anupam Rasayan India Ltd. on Wednesday announced a non-binding Letter of Intent (LOI) with BASQUEVOLT, S.A., a European solid-state lithium battery developer, for the potential long-term supply of a specialty chemical product.

Potential Supply Agreement

The LOI outlines the intent to explore the supply of a specialty chemical product over a period of up to 10 years. This potential agreement targets cumulative revenue of USD300 million, which translates to approximately Rs 2,500 crore based on current exchange rates.

Non-Binding Nature

The company clarified that the Letter of Intent is non-binding and preliminary. Any eventual supply would depend on the successful completion of product development and the negotiation and signing of a definitive supply agreement between the parties.

Partner Details

BASQUEVOLT, S.A. is headquartered in Miñano, Spain. It specialises in developing solid-state lithium batteries for various applications, including electric vehicles, heavy transport, and renewable energy storage.

Management Commentary

Anand Desai, Managing Director of Anupam Rasayan, said the LOI reinforces the company's focus on expanding in the electronic chemical domain. Desai noted that continued investments in research and development, process capabilities, and customer innovation position the company to capture emerging opportunities in this space.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.