Gujarat Fluorochemicals Limited (GFCL) has announced the incorporation of a wholly-owned overseas subsidiary by GFCL EV Products Limited, a subsidiary of GFCL. The new entity, GFCL EV Products Pte. Ltd., was established in Singapore on January 7, 2025.
According to a statement issued by GFCL, the Accounting and Corporate Regulatory Authority of Singapore issued the certificate of incorporation on January 9, 2025. The company is expected to focus on making investments in subsidiary companies and trading in various chemicals and related products.
The initial investment in the subsidiary amounts to USD 1,000, with 100% of the shareholding held by GFCL EV Products Limited. GFCL clarified that the entity is yet to commence its business operations and currently has no turnover.
The establishment of GFCL EV Products Pte. Ltd. does not involve any related-party transactions, and no promoter group or affiliated entities have an interest in the new subsidiary.
The company noted that the formation of this subsidiary aligns with its broader objectives of enhancing its business presence in the region through strategic investments and trade activities.