Khaitan & Co advised Gujarat Fluorochemicals Ltd (GFL) and its subsidiary, GFCL EV Products Ltd (GFCL EV), on an investment of ~USD 50 million from the International Finance Corporation (IFC) in GFCL EV. This marks IFC’s first investment in India’s battery-materials sector and supports the development of India’s first integrated battery materials manufacturing facility by GFCL EV.
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.
The core team consisted of Haigreve Khaitan (Senior Partner), Shantanu Gupta (Partner), Gautam Suseel (Partner), Ifrazunnisa Khan (Principal Associate), Nikhil Shahi (Senior Associate), Poojita Saxena (Associate) and Chaitanya Kishore (Associate).