GFCL EV raises USD 50 Mn from IFC

Gujarat Fluorochemicals Limited (GFL), India's leading fluorochemicals company's subsidiary GFCL EV, announced today further raise of approx USD 80 million from a global marquee investor. This fund raising is in addition to approx USD 50 million already raised from International Finance Corporation (IFC), a member of the World Bank Group (WBG). These capital raising will drive high-value manufacturing, create jobs, strengthen position in global supply chains, and advance priorities of energy security, transport electrification, and local value creation.

With diversified battery materials offerings and strong credentials, GFCL EV aims to reinforce India's emergence as a competitive player in the battery-materials value chain. Grounded in innovation and sustainability, the company will accelerate clean-technology adoption and lower emissions.

GFCL EV in INDIA has fully integrated manufacturing capabilities for battery chemicals with backward integration into key raw materials. Its current product portfolio, catering to both electric vehicle and energy storage sectors, includes:

- Battery chemicals - electrolyte salt LiPF6, electrolyte formulations, additives for enhanced performance

- Cathode active materials (LFP)

- Binders (both PVDF and PTFE)

On this momentous occasion, Mr. Vivek Jain, Chairman, INOXGFL Group, said, "We are delighted to welcome another marquee investor after IFC as our partner in GFCL EV. This round of financing further reinforces our vision for a greener future supported by IFC's global expertise and commitment to sustainable development, aiding in accelerating India's energy transition. These partnerships underline our leadership in battery materials and shall create long term sustainable value for existing shareholders".

Dr. Bir Kapoor, DMD and CEO, Gujarat Fluorochemicals Ltd., added, "Together we have achieved Capital raise of 130 million USD, which will enable us to scale up our manufacturing capacity for advanced battery materials strengthening our position in the global supply chain.

Barclays acted as exclusive financial advisor to GFCL EV on this transaction.

Shares of Gujarat Fluorochemicals Limited was last trading in BSE at Rs. 3070.85 as compared to the previous close of Rs. 3248.95. The total number of shares traded during the day was 7808 in over 1255 trades.

The stock hit an intraday high of Rs. 3250.45 and intraday low of 3029.40. The net turnover during the day was Rs. 24384650.00.

Source : Equity Bulls

Keywords

GujaratFluorochemicals INE09N301011 SpecialtyChemicals GFL