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Gujarat Fluorochemicals gets nod for slump sale of power undertaking to IGREL Mahidad

27 Dec 2024 Evaluate

Gujarat Fluorochemicals has received an approval for slump sale of Power Undertaking (57 MW captive power plant) of the Company to IGREL Mahidad, a wholly owned subsidiary of the Company, for a lump sum consideration of Rs 200 crore (subject to closing adjustments). The transaction will be effective on or before March 31, 2025 or such other date as may be mutually agreed between the parties, subject to customary closing approvals and conditions. The Board of Directors of the Company at its meeting held on December 26, 2024, has approved the same. 

The Board of Directors of the Company has also approved investment by way of equity shares of IGREL Mahidad, a wholly owned subsidiary of the Company, for a cash consideration of up to Rs 40 crore, in one or more tranches. Besides, the Board has approved investment by way of Equity shares in Flurry Wind Energy, a promoter owned company, for a cash consideration of up to Rs 200 crore, in one or more tranches, against a 26% stake in the said company.

Also, the Board of Directors of the Company has approved to purchase power up to 107 MW from IGREL Mahidad through a Power purchase agreement, at the rate of Rs 4 per unit with the transaction value based on the number of units generated and commercial operation date. The said power will be utilised to meet the power requirements of any of the plants of the Company.

The Board of Directors of the Company has also approved to purchase power up to 350 MW from Flurry Wind Energy through a Power purchase agreement, at the rate of Rs 4 per unit with the transaction value based on the number of units generated and commercial operation date. The said power will be utilised to meet the power requirements of any of the plants of the Company.

Gujarat Fluorochemicals is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, specialty chemicals and allied activities.


Gujarat Fluorochemic Share Price

3312.95 46.70 (1.43%)
23-Apr-2026 16:59 View Price Chart
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