** Shares of Iondrive ION.AX rise 6.8% to A$0.047, posting their biggest intraday pct gain since November 5

** Stock hits its highest level since November 17

** Battery recycling company says firm commitments received to raise A$4 million ($2.58 million) via placement

** Issue price of A$0.044 per share same as stock's last close

** Funds to be used for commercialisation of e-waste recycling in the U.S.

** YTD, stock up 56.7%, including current session's move

($1 = 1.5475 Australian dollars)

(Reporting by Ananya Verma in Bengaluru)

((ananya.verma@thomsonreuters.com;))