# Himadri Speciality Chemical Board Backs ₹200 Crore ICICI Bank Guarantee for Step-Down Subsidiary

> Himadri Speciality Chemical's board approved a ₹200 crore corporate guarantee for Sturdy Niketan's ICICI Bank credit facilities and shifted its corporate office in Kolkata.

- Published: 2026-11-07T08:22:37+00:00
- Section: Business
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-07/himadri-speciality-chemical-200-crore-guarantee
- Source: [ScanX](https://scanx.trade/stock-market-news/companies/himadri-speciality-chemical-approves-200-crore-guarantee-subsidiary/55584269)

## Key takeaways

- Himadri Speciality Chemical approved a corporate guarantee of up to ₹200 crore for step-down subsidiary Sturdy Niketan Private Limited.
- The guarantee secures credit facilities from ICICI Bank Ltd, with commission charged on an arm's length basis.
- The board also shifted the corporate office to Budge Budge Trunk Road, Kolkata, effective November 7, 2026.

Himadri Speciality Chemical Ltd's board approved a corporate guarantee of up to ₹200 crore for its step-down subsidiary, Sturdy Niketan Private Limited, at a meeting on November 7, 2026. [ScanX](https://scanx.trade/stock-market-news/companies/himadri-speciality-chemical-approves-200-crore-guarantee-subsidiary/55584269) reported that the guarantee secures credit facilities from ICICI Bank Ltd.

## Himadri's ₹200 Crore Guarantee for Sturdy Niketan

[Himadri Chemicals & Inds](https://akta.pro/company-profiles/0037nyh/himadri-chemicals-inds) is an Indian specialty chemicals conglomerate founded in 1987 and headquartered in Kolkata, producing specialty carbon black, coal tar pitch, lithium-ion battery anode and LFP cathode materials, and tyres for customers across 56 countries.

The guarantee is issued in favor of [ICICI Bank](https://akta.pro/company-profiles/005o6yb/icici-bank-ltd) to secure credit facilities availed by Sturdy Niketan. Himadri will charge a guarantee commission on an arm's length basis for providing the security, and the contingent liability will be disclosed in the company's financial statements.

The board confirmed that neither the promoter nor the promoter group holds any interest in the transaction. The filing was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

## Kolkata Office Moves to Budge Budge Trunk Road

The board also authorized shifting the corporate office to the 5th Floor, C6/108/ New, Budge Budge Trunk Road, Kolkata - 700088, West Bengal, effective November 7, 2026. The existing office at 8, India Exchange Place, Ruby House, 2nd Floor, Kolkata will continue as an additional place of business. The registered office remains unchanged at 23A, Netaji Subhas Road, 8th floor, Suite no 15, Kolkata-700001.

## Battery Materials Investments Behind the Guarantee

According to akta.pro [company records](https://akta.pro/company-data), Himadri increased its stake in US-based International Battery Company to 20.47% in June 2026 with a USD 0.66 million additional investment, bringing its total investment to approximately USD 6.09 million. In May 2026 the company made an additional AUD 2.56 million investment in Australia's Sicona Battery Technologies through compulsorily convertible notes, bringing potential ownership to 24% on conversion. In April 2026 it commissioned India's first commercial lithium-ion battery anode material production facility at Mahistikry with 200 MTPA initial capacity.

## Earlier Moves in Himadri's Expansion

On October 22, 2026, BusinessLine reported that Himadri Speciality Chemicals plans a ₹1,613 crore capacity expansion across lithium iron phosphate, speciality chemicals, carbon nanotubes, and carbon black. On October 30, 2026, TradingView reported that the company plans to invest ₹600 crore in its wholly-owned arm Birla Tyres for modernization and automation of its Odisha plant, expecting break-even by FY27. On November 2, 2026, The Times of India reported that Himadri's H1FY27 net profit was ₹460 crore, up 29% year-on-year, with revenue rising 43% to ₹3,123 crore.

## Golden Peacock Award Presentation Date

The company's Golden Peacock Award for Sustainability 2026 in the Chemical sector, awarded by the Institute of Directors, will be presented on November 18, 2026 in London, according to Devdiscourse.

## Companies in this story

- [Himadri Chemicals & Inds company profile](https://akta.pro/company-profiles/0037nyh/himadri-chemicals-inds) · website: https://www.himadri.com
- [ICICI BANK LTD company profile](https://akta.pro/company-profiles/005o6yb/icici-bank-ltd) · website: https://icici.bank.in

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