Acquisitions12 Mar 2026, 11:02 pm
Gravita India Ltd Acquires Rashtriya Metal Industries Limited for INR 559.08 Crores
AI Summary
Gravita India Limited has entered into definitive documents for the acquisition of 41,08,639 equity shares of Rashtriya Metal Industries Limited, representing ~98.95% of its paid-up share capital for a total consideration of INR 559.08 Crores. RMIL is engaged in the business of manufacturing of copper & copper alloy products with exports to several countries. The acquisition is part of Gravita's strategic initiative to expand its presence and strengthen its capabilities.
Key Highlights
- Gravita India Ltd to acquire Rashtriya Metal Industries Limited for INR 559.08 Crores.
- The acquisition represents ~98.95% of RMIL's paid-up share capital.
- RMIL is engaged in the manufacturing of copper & copper alloy products with a significant global presence.
- The acquisition is part of Gravita's strategic initiative to expand its presence and strengthen its capabilities.
- The transaction is expected to be completed by March 31, 2026, or such other date as may be mutually agreed between the parties.