Outcome of Board Meeting held on Thursday, 12th March, 2026, inter alia, considered and approved the following: The approval of Share Purchase Agreement for sale of 22,79,410 equity ....
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SPV Global Trading's board, at its meeting on 12 March 2026, approved a Share Purchase Agreement to sell 22,79,410 equity shares (54.90% stake) in Rashtriya Metal Industries Limited to Gravita India Limited for approximately INR 310.17 Crores. Rashtriya Metal Industries is a significant contributor to SPV Global, having generated turnover of about INR 910 Crores and net worth of around INR 300 Crores in FY ending March 2025. The deal is expected to be completed on or before 31 March 2026. Gravita India is not part of SPV Global's promoter group, and the transaction is not a related-party deal. Shareholders had already approved the divestment via a special resolution passed on 6 February 2026, with the required majority of public shareholders voting in favour.
This is a major value-unlock event for SPV Global shareholders — the company is cashing out a controlling stake in a subsidiary that contributes the bulk of its revenue. The INR 310.17 Crore inflow strengthens the balance sheet, but the company is also losing its primary revenue-generating asset, so future earnings profile will shrink significantly post-completion.