Gujarat Fluorochemicals Ltd. (‘GFL’), a leading advanced materials company globally, has received Rs623 crore from Inox Wind Ltd. (‘IWL’) against advances that GFL had given to IWL for setting up the wind power capacity.
The advances have been paid adjusting for the wind power capacity that Inox Wind will be commissioning for GFL.
This money will be used to substantially reduce the debt at GFL as has been the stated vision of the Inox GFL Group to reduce the debt of all its operating entities, the company said.
At around 9:18 AM, GFL Ltd is currently trading at Rs67.10 per share up by Rs0.6 or 0.9% from its previous closing of Rs66.50 per share on the BSE.
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