Event Details

Anupam Rasayan India Limited has signed a non-binding Letter of Intent (LOI) with BASQUEVOLT, S.A., a European developer of solid-state lithium batteries headquartered in Miñano (Araba/Álava), Spain.

Key Terms and Conditions

  • The LOI is non-binding and preliminary in nature
  • Parties intend to explore potential supply of a specialty chemical product
  • Potential supply period: Up to 10 years
  • Cumulative revenue potential: $300 Million
  • Any actual supply would be subject to successful completion of product development
  • Any supply would require negotiation and signing of a definitive supply agreement

Transaction Characteristics

  • Awarded by: International entity
  • Nature: Letter of Intent (LOI)
  • Geographic scope: International
  • Not a related party transaction
  • Promoter/promoter group/group companies have no interest in Basquevolt, S.A.

Management Commentary

Anand Desai, Managing Director, stated: "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 positions us well to capture emerging opportunities in this space."

He further added: "This development marks a significant step forward in the Company's strategy to deepen its footprint in the high-growth electronic chemicals space, catering to advanced manufacturing and technology-driven industries. The engagement underscores the Company's strong R&D capabilities, quality standards, and its ability to meet stringent customer requirements in specialized chemical formulations."

Company Background

Anupam Rasayan India Ltd. is a leading custom synthesis and specialty chemicals company incorporated in 1984. The company operates two verticals: Life science related Specialty Chemicals (Agrochemicals, Personal Care, Pharmaceuticals) and Performance Materials (Electronics & EV Chemicals and Polymers).

Operational Capacity

The company operates six manufacturing facilities in Gujarat, India (four at Sachin, Surat and two at Jhagadia, Bharuch) with aggregate installed capacity of approximately 30,000 MT as of March 31, 2026.

Counterparty Information

BASQUEVOLT, S.A. is a European technology company focused on developing next-generation solid-state lithium metal battery solutions for electric vehicles, heavy transport, renewable energy storage, and aviation.

Additional Information

The intimation will be hosted on the company website at www.anupamrasayan.com.