The company clarified that the LoI is preliminary and non-binding, and any commercial supply will be subject to the successful completion of product development, followed by the negotiation and execution of a definitive supply agreement.
BASQUEVOLT is a European developer of solid-state lithium batteries for electric vehicles, heavy transport, renewable energy storage and aviation applications.
Anand Desai, Managing Director of Anupam Rasayan, said, “This LoI reinforces our strategic focus on expanding in the electronic chemical domain, which we believe will be a key growth driver going forward. Our continued investments in R&D, process capabilities and customer-centric innovation position us well to capture emerging opportunities in this space.”The company said the proposed partnership aligns with its strategy to deepen its presence in the electronic chemicals segment, which caters to advanced manufacturing and technology-driven industries.
Anupam Rasayan manufactures speciality chemicals across life sciences and performance materials, including electronics and EV chemicals, and serves more than 75 domestic and international customers, including 31 multinational companies, through six manufacturing facilities in Gujarat.
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After hitting an intraday high of ₹1,286.4, shares of Anupam Rasayan are trading 0.6% higher on Wednesday at ₹1,271.5. The stock is down 4% so far this year and has gained over 9% during the last 12 months.
