Mahanagar Gas Limited — JV/Acquisition, 03-02-2025: Acquisition

Mahanagar Gas Limited has completed its investment in 43,71,065 equity shares of International Battery Company India Private Limited (IBC India), acquiring a 44% stake. The total investment amounts to ₹35.36 Crore. This acquisition aims to diversify and expand the company’s existing operations into battery cell manufacturing and marketing, in collaboration with International Battery Company, Inc. (IBC US). As IBC India becomes an associate, this strategic move is expected to enhance Mahanagar's operational footprint and market presence within the growing battery sector.