Gravita India Limited has informed the Exchange regarding a press release dated March 12, 2026, titled "Global recycling leader Gravita India has signed Definitive Agreements to acquireRashtriya Metal Industries Limited".
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Gravita India Limited has signed definitive agreements to acquire a 98.95% stake in Rashtriya Metal Industries Limited (RMIL) for a total consideration of Rs. 559.08 Crores. RMIL manufactures copper and copper alloy products such as strips and coils, with an installed capacity of 31,200 MTPA at its integrated facility in Sarigam, Gujarat, spread over ~15 acres. Around 40% of RMIL's revenue comes from exports to the UAE, USA, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia. The acquisition gives Gravita a foothold in copper and copper alloy recycling, complementing its existing recycling businesses in lead, plastic, rubber, and aluminum. The transaction is expected to close on or before 31st March 2026, with Singhi Advisors as M&A advisor and Crawford Bayley & Co. as legal advisor.
This is a sizeable, strategically aligned acquisition that broadens Gravita's recycling portfolio into high-demand copper products, which could strengthen margins and competitive positioning over the medium term. Near-term, the Rs. 559 Cr outlay may pressure cash flows and require monitoring of integration and closure timelines.