Navin Fluorine QIP: Launches ₹750 Crore Fund Raising Program to Strengthen Capital Base

On July 8, 2025, Navin Fluorine shares soared ~3%, reaching a day high of ₹5,045.60 at 09:35 AM, after opening at ₹4,900.00 on BSE. The gain in Navin Fluorine shares follows the capital raising plan through Qualified Institutions Placement (QIP), which was opened on Monday, July 7. The company aims to raise up to ₹750 crore through the issuance of equity shares, each with a face value of ₹2.

Board and Shareholder Approvals Secured

This move comes on the heels of a board resolution passed on June 29, 2024, and shareholder approval obtained via a special resolution during the Annual General Meeting (AGM) held on August 1, 2024. At its July 7 meeting, the Board gave the green light to open the QIP and approved the preliminary placement document and application form.

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Issue Pricing and Regulatory Compliance

The floor price for the QIP has been set at ₹4,798.28 per share, in accordance with SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations. Additionally, the company has designated July 7, 2025, as the "relevant date" under Regulation 171(b) of the SEBI ICDR framework. Depending on market conditions and investor response, a discount of up to 5% on the floor price may be offered, in consultation with the book-running lead manager.

As a result of this QIP launch, Navin Fluorine has amended the notice of its 27th Annual General Meeting to remove the earlier proposal related to fund-raising through equity or other instruments up to ₹750 crore—since that objective is now being addressed through the current QIP.

Partnership with Chemours

Navin Fluorine has entered into a strategic partnership with Chemours to expand its presence in the high-growth, niche segment of advanced materials. This collaboration marks Navin Fluorine’s foray into the data center cooling market through the adoption of Chemours’ Opteon™ two-phase immersion cooling fluid—an innovative solution designed to meet the demanding thermal management needs driven by AI and next-generation semiconductor technologies.

As part of this initiative, Navin Fluorine will establish a dedicated manufacturing facility in Surat, Gujarat, with an estimated capital expenditure of $14 million, including a $5 million investment from Chemours. The facility is targeted to be operational by Q1 FY27 (April to June 2026). As the market scales and adoption increases, both companies plan to explore opportunities to expand capacity further and cater to the growing global demand for advanced cooling solutions.

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