IFC Invests Rs 415 Crores in GFL Subsidiary GFCL EV Products Limited: Khaitan & Co has advised Gujarat Fluorochemicals Limited (GFL) and its subsidiary, GFCL EV Products Limited, on an equity investment of approximately $50 million (around ₹415 crore) by the International Finance Corporation (IFC).
The investment marks IFC’s first foray into India’s battery-materials sector and represents a significant milestone for the country’s rapidly evolving electric vehicle and energy storage ecosystem. IFC’s investment will support GFCL EV Products’ plans to develop India’s first integrated battery materials manufacturing facility.
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The transaction is aimed at strengthening domestic manufacturing capabilities for advanced battery materials and enhancing India’s position in the global battery-materials supply chain, at a time when demand for electric vehicles and energy storage solutions is accelerating worldwide.
Khaitan & Co advised Gujarat Fluorochemicals and GFCL EV Products on all aspects of the transaction. The firm’s transaction team comprised Haigreve Khaitan (Senior Partner), Shantanu Gupta (Partner), Gautam Suseel (Partner), Ifrazunnisa Khan (Consultant), Nikhil Shahi (Senior Associate), and associates Poojita Saxena and Chaitanya Kishore.
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The investment underscores growing international interest in India’s clean energy and electric mobility value chain, particularly in strategically critical segments such as battery materials.
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