Lohum is a leading battery recycling and critical minerals refining company in India. The company is planning to raise USD 200 million (~INR 1,740 crore) before its public offer, the company is planning to launch it in early 2027. Lohum pre-IPO fundraising round will be completed in two phases—USD 100 million in Series C and another USD 100 million in pre-IPO placement, says Founder and CEO Rajat Verma.
Lohum’s Growth Plan
Lohum was founded in 2018, The company is well-grown in India’s sustainable mineral landscape. In its latest financial report, the company reported a revenue of INR 1,000 crore. Lohum is targeting a revenue growth of INR 4,000 crore by 2027. To achieve this target, Lohum is looking for an expenditure of USD 200 – 300 million over the next two years.
Lohum plans to increase its lithium refining capacity threefold, quadruple its nickel processing capacity and set up a greenfield cathode active material (CAM) project. This will make Lohum India’s largest direct consumer of lithium by 2030.
Since its inception, Lohum has raised USD 100 million from investors, including Singularity Growth, Baring Private Equity and Cactus Venture Partners. The fresh USD 200 million funding from Lohum pre-IPO round will be used to scale up capacity, technology and global presence.
Expansion and Global Reach
Lohum has eight refining locations—seven in Greater Noida, Uttar Pradesh and one in Gujarat. The company is expanding in South India and setting up lithium battery recycling facilities in the UAE and the US. It has joint ventures in the US and Sharjah and is looking to expand in Europe.
Recently, Lohum launched India’s first battery-grade lithium refinery with a capacity of 1,000 MTPA. It refines over 90% of India’s lithium, making it the largest lithium refiner outside China.
Lohum’s lithium refining has a recovery rate of over 90%—way higher than the industry average of 60-70% with a purity of 99.8%. By investing in Cathode Active Materials (CAM) and other value-added products, Lohum is enabling India’s energy transition and Atmanirbhar Bharat in critical minerals.
Market Position and Future Outlook
Lohum has 90% market share in India’s lithium-ion battery recycling industry and plans to expand into Platinum Group Elements (PGEs) and Rare Earth Elements (REEs). 70% of its demand is domestic, and 30% is export. The company is planning to balance this to a 50-50 domestic-export ratio in the near future.
As India is pushing for self-sufficiency in critical minerals, Lohum’s expansion plans are in line with the government’s National Critical Mineral Mission, which has allocated INR 34,300 crore over 7 years to support domestic production and processing.
Conclusion
With aggressive expansion plans and solid financial backing, Lohum is going to be a big player in the global battery recycling and critical minerals industry. Lohum pre-IPO fundraising will further strengthen its position to achieve its long-term vision of scaling up its revenue to INR 4,000 crore and reinforce India’s position in the global energy transition landscape.
As the demand for lithium and other critical minerals is surging globally, Lohum’s innovative approach and strategic investments are positioning it as a key player in the green energy ecosystem.
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