GFL Ltd. Company History and Annual Growth Details

YEAR EVENTS
1987 - The Company was incorporated on 4th Feb. at Ahmedabad. The
Company was promoted jointly by Industrial Oxygen Co. Ltd. along
with its subsidiary, a part of the Siddho Mal Group and Gujarat
Industrial Investment Corporation, Ltd. (GIIC).

- The Company entered into technical collaboration agreements with
Stearns Catalytic division, a division of United Engineers &
Constructions Inc. U.S.A. (A Raytheon Company). Stearns have
back to back agreements with Pennwalt Corpn. U.S.A. and Stauffer
Chemicals Corporation U.S.A. for licences for technology
transfer.

1988 - 9,50,070 shares allotted to promoters, etc. 70,49,930 shares
then issued at par of which the following shares were reserved
and allotted on a firm basis:

- (i) 22,49,930 shares to promoters, etc. and

- (ii) 8,80,000 shares to GIIC (Co-promoter). Out of the remaining
39,20,000 shares, the following shares were reserved for
allotment on a preferential basis:

- (i) 15,68,000 shares to NRI on repatriation basis (only 6,12,800
shares taken up and 4,00,000 shares to employees of the company
(only 65,000 shares taken up).

- The balance 19,52,000 shares, along with the unsubscribed portion
of 12,90,200 shares out of preferential quota were offered to the
public in October. Additional 5,88,000 shares allotted to retain
oversubscription.

1991 - 13,70,000 No. of equity shares allotted at par to Industrial
Oxygen Co., Ltd., in conversion of loan.

1992 - 16,20,000 shares allotted to conversion of loans.

1997 - The company has set up a project identification cell, which is
scanning the economic environment to spot good business
opportunities, either on its own or with the help of outside
consultants.

1999 - The company has identified the-entertainment industry as a key
diversification area, and is considering setting up a national
chain of multiplexes.

2000

-Inox Leasing and Finance Ltd has proposed to acquire 8 77 900 equity shares of the company from Gujarat Industrial Investment Corpn. Ltd (7.58 per cent) at Rs. 134 per share.

2001

-The promoters of the Rs 500 crore Inox Group, suppliers of industrial gases, has diversified into destination leisure and entertainment business

-Company has splits its Face value of Shares from Rs 10 to Rs 2

2008

- The Company has splits its face value from Rs2/- to Rs1/-.

2010

- Gujarat Fluorochemicals Ltd has appointed Shri. Chandra Prakash Jain as an additional director on the Board of the Company. He is an Independent director on the Board of the Company.

2011

-Shri Mahesh Prasad has ppointmented Additional and Independent Director of the company.

2012

-Gujarat Fluorochemicals Ltd has transferred, by way of slump sale, the wind energy business of the Company including all the undertakings comprised therein to INOX Renewables Ltd, a subsidiary of the Company.

2013
-Gujarat Fluorochemicals- Inox Leisure Limited became a subsidiary of the Company.
-Gujarat Fluorochemicals incorporates new subsidiary in Hamburg Germany.

2014
-Gujarat Fluorochemicals Ltd has recommended a dividend @ Rs. 3.50 (350%) per equity share.
-Inox Wind Ltd, a Subsidiary of Gujarat Fluorochemicals Ltd one of India's leading wind power solutions provider has been awarded a 170MW order from Continuum Wind Energy a Singapore based company.

2019
-Company name has changed to GFL Ltd. from Gujarat Fluorochemicals Ltd.

2021

-GFL Limited hasÂ Apportioned the Cost of Acquisition of Equity Shares of GFL Limited and Equity Shares of Inox Wind Energy Limited pursuant to the Composite Scheme of Arrangement.

2022

-GFL Limited has entering into shareholders agreement and amendment of Merger Co-Operation Agreement.

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