Gravita India Invests ₹94.42 Cr in Subsidiary RMIL Rights Issue

Gravita India Ltd announced an additional investment of approximately ₹94.42 crores in its material subsidiary, Rashtriya Metal Industries Limited (RMIL), through a rights issue subscription. This investment aims to fund RMIL's general corporate purposes. RMIL, incorporated in 1946, is engaged in manufacturing copper and copper alloy products, with a net worth of ₹330 crore, total assets of ₹579 crore, and a turnover of ₹1041 crore for FY26. Gravita India's shareholding in RMIL will slightly increase from 99.5880% to 99.5881% post-rights issue. The transaction is considered at arm's length, despite RMIL being a related party.