Gujarat Fluorochemicals Limited (GFL) has announced that the corporate guarantees it had extended to Inox Wind Ltd. (IWL) for previous banking facilities will be vacated following a new consortium agreement signed between IWL and a group of banks led by ICICI Bank. This move is expected to significantly reduce GFL’s contingent liabilities and strengthen its balance sheet.
Mr. Akhil Jindal, Group CFO of the INOXGFL Group, commented, “The removal of corporate guarantees will further solidify GFL’s financial position. Combined with recent strategic actions, our group companies are well-positioned to capitalize on emerging opportunities in sectors such as renewable energy.”
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GFL, a leading fluorochemicals producer, continues to expand its global presence, with integrated manufacturing facilities in Gujarat and operations in Europe, the USA, and the Middle East. The company plays a major role in India’s energy transition through its subsidiary, GFCL EV, which provides battery materials for electric vehicles and energy storage systems.
