GFCL EV, a subsidiary of Gujarat Fluorochemicals, is set to raise additional funds following a recent Rs 1,000 crore investment from family offices and other investors. The company, which focuses on manufacturing critical materials for lithium-ion batteries, aims for a 7% share in the global electric battery chemicals market. Promoters have already invested Rs 1,500 crore in equity and plan to support future growth through external funding rather than internal accruals.
