Gravita India Limited has informed the Exchange about Acquisition
GRAVITA · price
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Gravita India has signed definitive documents to acquire 41,08,639 equity shares (about 98.95%) of Rashtriya Metal Industries Limited (RMIL) for a total cash consideration of INR 559.08 Crores. RMIL manufactures copper and copper alloy products (strips and coils) and exports to countries including the UAE, USA, Thailand, and Saudi Arabia. As of March 31, 2025, RMIL had a turnover of Rs. 910 Crores, net worth of Rs. 300 Crores, and total assets of Rs. 558 Crores, with turnover growing steadily from Rs. 598 Crores in FY23 to Rs. 910 Crores in FY25. The transaction is not a related-party deal and is expected to be completed by March 31, 2026, as part of Gravita's strategic expansion initiative.
This is a sizeable cash acquisition that diversifies Gravita into copper products, complementing its existing lead recycling business. Shareholders should watch for integration progress, funding impact, and any open offer obligation triggered by crossing the SEBI takeover threshold.