Gujarat Fluorochemicals Limited incorporates new subsidiary in Oman for battery chemical market
Gujarat Fluorochemicals Limited (GFCL) has incorporated GFCL EV New Age Materials SAOC as a Closed Joint Stock Company in Oman, marking a move into the manufacturing and trading of battery chemicals. The newly established company has yet to commence its operations.The target entity, GFCL EV New Age Materials SAOC, is focused on the industry of manufacturing and trading battery chemicals. The acquisition was conducted using cash consideration.
Financial details surrounding the initial subscription for the new entity are as follows:
| Stakeholder | Investment/Cost | Percentage Shareholding |
|---|---|---|
| GFCL EV Products Limited | OMR4,95,000 | 99.00% |
| Gujarat Fluorochemicals Limited | OMR4,500 | 0.90% |
| Mr. Nayankumar Bipinchandra Bhatt | OMR500 | 0.10% |
The subsidiary was incorporated as a newly established company intended for business development in the relevant sector.
FLUOROCHEM Stock Price Movement
Today, Gujarat Fluorochemicals Limited's stock slipped by 0.39%, settling at ₹3642.9 after trading closed today. The equity saw a volume of 50,977 shares traded during the post-market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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