GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd (GFL), has raised about $80 million from a global investor, as per a filing dated March 27, 2026.
This comes after an earlier $50 million investment from the International Finance Corporation (IFC). With this, the total capital raised by the EV-focused unit stands at around $130 million.
The company plans to use the funds to expand its manufacturing capacity for battery materials. The investment is also to support its participation in global supply chains and increase local production.
The company indicated that the capital would be directed towards scaling existing operations rather than entering new segments.
GFCL EV manufactures a range of battery materials used in electric vehicles and energy storage systems.
Its product line includes electrolyte salts such as LiPF6, electrolyte formulations, additives, cathode active materials like LFP, and polymer binders including PVDF and PTFE.
The company operates with backward integration into key raw materials, which supports its manufacturing process.
Gujarat Fluorochemicals Ltd is part of the INOXGFL Group, which has operations across chemicals and renewable energy.
The group has a long operating history and a presence in multiple international markets, including Europe, the United States and the Middle East.
GFL runs manufacturing facilities in Gujarat, including an integrated site at Dahej, and also has access to a fluorspar mine in Morocco.
Barclays acted as the exclusive financial adviser for the fundraise. The investment follows earlier funding from IFC and shows continued capital allocation towards battery material manufacturing linked to the electric vehicle ecosystem.
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As of March 30, 2026, 11:49 am, Gujarat Fluorochemicals share price was trading at ₹2,981.70, down 2.81% from the previous closing price.
The funding increases the company’s available capital for capacity expansion. It is to support ongoing manufacturing activities and strengthen its position within the battery materials supply chain.
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Published on: Mar 30, 2026, 3:32 PM IST
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