Gensol Engineering raises INR 900 cr in equity capital, GFCL EV Products plans to invest Rs 6,000 cr in EV battery solutions over 4-5 years.

Gensol Engineering, a renewable energy and electric mobility provider, raised INR 900 crore ($109 million) through the issuance of convertible warrants on a preferential basis. Investors include Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. GFCL EV Products, a subsidiary of Gujarat Fluorochemicals, planned to invest Rs 6,000 crore over the next 4-5 years to boost EV battery supply chain in India.

February 07, 2024
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