* IFC is investing approximately US$ 50 million (₹416 crore) in GFCL EV Products Limited, a subsidiary of Gujarat Fluorochemicals Limited (GFL), to build India's first integrated battery materials facility. * The investment will be through the subscription of compulsorily convertible instruments. * GFCL EV aims to strengthen India’s position in the global battery-materials value chain with diversified battery materials offerings. * The facility will support clean-technology adoption, lower emissions, and support India’s ambition to become a global hub for advanced battery materials. * GFCL EV has fully integrated manufacturing capabilities for battery chemicals with backward integration into key raw materials. * Mr. Vivek Jain, Chairman, INOXGFL Group, welcomes IFC as a partner, reinforcing their vision for a greener future and accelerating India’s energy transition. * Dr. Bir Kapoor, DMD and CEO, Gujarat Fluorochemicals Ltd., notes this is IFC’s first investment in a battery materials company in India.
