| The Board of Graphite India has approved the acquisition of compulsory convertible preference shares (CCPS) of Godi India at a consideration value of Rs 50 crore, which amounts to the Company holding 31% of the equity/equity equivalent on a fully diluted basis in GIPL.
GIPL is engaged in research and development of advanced battery technologies, with high energy and power densities (Li-ion Batteries, Na-ion Batteries, All Solid-State Batteries) by using environmentally
friendly electrode making processes for a variety of applications across automobiles, consumer electronics, renewable energy storage, and strategic sectors. It has also developed Supercapacitors for a
wide range of applications.
GIPL is at development stage and has not yet commenced commercial operations of any product. |