Gravita India, a prominent player in the global recycling industry, has signed definitive agreements to acquire a 98.95% stake in Rashtriya Metal Industries Limited for a total consideration of ₹559.08 crore. The acquisition is set to be completed by 31st March 2026.
Rashtriya Metal Industries, known for its copper and copper alloy products, operates a manufacturing facility in Sarigam, Gujarat, with a production capacity of 31,200 MTPA. The company derives 40% of its revenue from exports to markets including the UAE, USA, and Saudi Arabia.
Gravita India’s acquisition of RMIL will enable it to expand into copper and copper alloy products, enhancing its existing recycling operations in lead, plastic, rubber, and aluminium. This strategic move aligns with India’s Make in India initiatives and strengthens Gravita’s market position.
Global M&A advisory firm Singhi Advisors and legal advisor Crawford Bayley & Co. supported Gravita in this transaction.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).