Anagram Partners advised Mahanagar Gas Limited on its INR 2.3 billion investment in a joint venture with International Battery Company Inc. for its foray into Lithium-ion battery cell manufacturing.

Established in 1995, Mahanagar Gas Limited (MGL) is one of India’s leading natural gas distribution companies, supplying Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) across Mumbai and its adjoining areas.

MGL has announced a strategic partnership with International Battery Company, Inc. (IBC US) to establish one of India’s first giga factories dedicated to manufacturing prismatic lithium-ion cells. Accordingly, both parties will invest in International Battery Company India Private Limited, a subsidiary of IBC US to form a joint venture company.

This partnership aligns with the ‘Make in India’ policy of the Government of India and aims to reduce import dependence for battery cells.

Headquartered in the Unites States, International Battery Company Inc. is a full-service lithium- ion product company specializing in the design, development, and manufacturing of prismatic form factor cells for niche players in the mobility and storage sectors.

Anagram Partners acted as the legal advisor to Mahanagar Gas Limited on this transaction. The team was led by our Partners Faraz Khan and Rajesh Simhan and comprised Shikha Tripathi and Afaan Arshad.

Read more at:
Mahanagar Gas to undertake battery cell manufacturing with International Battery Co | Capital Market News – Business Standard

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