Strategic Partnership Aims to Set Up India’s First Giga Factory for Prismatic Lithium-Ion Cells
Anagram Partners has successfully advised Mahanagar Gas Limited (MGL) on its ₹2.3 billion strategic partnership with International Battery Company, Inc. (IBC) to establish one of India’s first giga factories for manufacturing prismatic lithium-ion cells.
The joint venture will be formed under International Battery Company India Private Limited, a subsidiary of IBC US, with MGL taking a 40% stake in the venture.
The transaction, led by partners Faraz Khan and Rajesh Simhan, alongside associates Afaan Arshad, Rachana Rautray, and Shikha Tripathi, is poised to boost India’s mobility and battery storage sectors by producing prismatic NMC (Nickel Manganese Cobalt) lithium-ion cells. These cells will support MGL’s strategy to diversify its energy portfolio, enhance renewable energy capabilities, and reduce dependence on imported battery technology.
IBC US will contribute its advanced technology and certifications, including UN 38.3, BIS, and AIS, for the prismatic NMC cells. Mahanagar Gas, one of India’s leading natural gas distribution companies, aims to strengthen its position in the renewable energy sector through this strategic initiative.
