Graphite India Has Acquired 31% Shareholding in GODI India
Hyderabad: Graphite India Limited (“Graphite India” or the “Company”, BSE: GRAPHITE; NSE: 509488), one of the largest producers of graphite electrodes globally, has entered into a definitive transaction with a cash consideration of Rs. 50 Crores for an investment in Compulsory Convertible Preference Shares of GODI India Private Ltd (“GODI India”), which on a fully diluted basis will provide an equity shareholding of 31% in the company.
GODI India, which is currently backed by Blue Ashva Capital, a venture capital fund, is engaged in advanced chemistry R&D to support the manufacturing of sustainable batteries for electric vehicles and supercapacitor-based energy storage systems. In addition to high power density Lithium-ion batteries, GODI India has developed technical expertise in advanced technologies such as Sodium ion and Solid State batteries.
GODI India’s technologies include Aqueous Electrode ProcessingTM, Active Dry CoatingTM and Pranic BinderTM which are environment friendly and carbon neutral processes. It is a signatory to The Climate Pledge co-founded by Amazon and Global Optimism in 2019 as a commitment to reach net-zero carbon by 2040.
Significant growth in electric vehicle sales and the increasing demand for energy storage systems are underpinning the attractive industry dynamics for the production of battery cells and supercapacitors. GODI India is strategically positioned to capitalise on this opportunity.
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