Private Equity

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GFCL’s EV subsidiary raises Rs.1,000-Cr

Business Line   GFCL EV Products Ltd  

Noida-based GFCL EV Products Ltd , a wholly-owned subsidiary of Gujarat Fluorochemicals Limited (GFL), has attracted INR 1,000 crore at an equity valuation of approximately INR 25,000 crore. The funding round was led by INOXGFL Group promoters and included several prominent Indian business family offices.The company manufactures battery chemicals, including electrolyte salts LiPF6 and formulations, cathode active materials, and binders. It operates with fully integrated manufacturing capabilities and backward integration into AHF, LiF, and captive fluorspar.The funds will be used for capital expenditure as the company expands its operations in the electric vehicle (EV) and energy storage systems (ESS) battery materials space.