Anupam Rasayan India has announced the signing of a non-binding Letter of Intent (LOI) with BASQUEVOLT, S.A., a European developer of solid-state lithium batteries headquartered in Mino (Araba/ava), Spain. According to reports from PTI, this partnership represents a significant step in the company's expansion into the specialty chemicals sector for lithium battery applications. The agreement was formalized on July 15, 2026, marking a key milestone in the collaboration between the Indian specialty chemicals manufacturer and the Spanish battery developer.
Shares of Anupam Rasayan India gained nearly 2% on Wednesday, July 15, following the announcement of the LOI with BASQUEVOLT, S.A.. As reported by CNBC TV18, the stock hit an intraday high of ₹1,286.4 before settling at ₹1,271.5, trading 0.6% higher on the day. The stock performance reflects positive investor sentiment around the strategic partnership and its potential to drive growth in the electronic chemicals segment. However, the stock remains down 4% so far this year despite the recent gains, while it has gained over 9% during the last 12 months.
Under the LOI, the parties intend to explore the potential supply of a specialty chemical product over a period of up to 10 years for cumulative revenue of $300 million. As reported by PTI, the agreement is described as non-binding and preliminary, with any supply arrangements subject to successful completion of product development and negotiation of a definitive supply agreement. The deal structure reflects the long-term nature of the partnership and the substantial revenue potential in the growing solid-state lithium battery market. CNBC TV18 confirms the proposed engagement is for potential cumulative revenue of approximately ₹2,885 crore ($300 million) over a period of up to 10 years.
Anand Desai, Managing Director of Anupam Rasayan, emphasized that the agreement reinforces the company's strategic focus on expanding in the electronic chemical domain, which he believes will be a key growth driver going forward. According to CNBC TV18, Desai stated that "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 partnership aligns with the company's broader strategy to deepen its presence in the electronic chemicals segment, which caters to advanced manufacturing and technology-driven industries.
Anupam Rasayan India, incorporated in 1984, operates as a leading specialty chemicals manufacturer with combined installed capacity of about 30,000 tonnes across six manufacturing facilities in Gujarat as of March 31, 2026. As reported by PTI, the company manufactures specialty chemicals across two main segments: life science-related chemicals for agrochemicals, personal care and pharmaceuticals, and performance materials covering electronics, EV chemicals and polymers. The company serves more than 75 domestic and international customers, including 31 multinational firms, positioning it well to capitalize on the growing demand for specialty chemicals in the global market.
