PCBL expands in USA, issues INR 100 crore in commercial paper

PCBL Chemical Limited has announced significant steps towards international expansion and domestic financing. The company is expanding its reach into the North American market through the incorporation of Nanovace Inc., a wholly-owned U.S. subsidiary of Nanovace Technologies Limited. Nanovace Inc. is incorporated in Delaware and is strategic to PCBL entering the lucrative battery chemicals market in the USA. The subsidiary aims to leverage Nanovace technology to establish localized supply chains for Graphite-Silicon composites, vital for battery production. This will also allow PCBL to gain strategic market access and understand the USA regulatory landscape. To fund its operations, PCBL has allotted 2,000 units of commercial paper on June 19, 2025, each with a face value of INR 500,000, aggregating to INR 100 crores. The commercial paper, identified by ISIN INE602A14463, has a tenure of 90 days, maturing on September 17, 2025, and offers an upfront discount rate of 6.05% p.a. Kotak Mahindra Bank is listed as the IPA and Yes Bank Limited is the bank.