Target Entity: GFCL EV New Age Materials SAOC

Type of Deal: Incorporation of a new subsidiary company as a Closed Joint Stock Company

Stake/Capacity:

  • GFCL EV Products Limited: 99.00% ownership
  • Gujarat Fluorochemicals Limited: 0.90% ownership
  • Mr. Nayankumar Bipinchandra Bhatt: 0.10% ownership

Deal Value: Total cash consideration of OMR 500,000

  • GFCL EV Products Limited: OMR 4,95,000
  • Gujarat Fluorochemicals Limited: OMR 4,500
  • Mr. Nayankumar Bipinchandra Bhatt: OMR 500

Industry: Manufacturing and trading of battery chemicals

Current Status: Newly incorporated company that has yet to commence operations

Business Purpose: Newly incorporated Company for business development

Additional Information:

  • Not a related party transaction
  • No governmental or regulatory approvals required
  • No specific timeline for completion provided
  • The entity is newly incorporated with no operational history