Acquisitions9 Feb 2026, 09:32 pm
Gravita India Ltd. Approves Term Sheet for Acquisition of Rashtriya Metal Industries Limited
AI Summary
Gravita India Ltd. has approved a binding term sheet for the acquisition of up to 100% of the stake in Rashtriya Metal Industries Limited (RMIL) for a total consideration up to INR 565 crores. RMIL, established in 1946, is a reputed manufacturer of copper & copper alloy products with exports to several countries. Post-acquisition, RMIL will become a subsidiary of Gravita India Ltd. The company also plans to enter the business of copper recycling.
Key Highlights
- Gravita India Ltd. has approved a term sheet for the acquisition of Rashtriya Metal Industries Limited (RMIL) for up to INR 565 crores.
- RMIL is a well-established manufacturer of copper & copper alloy products with exports to various countries.
- Post-acquisition, RMIL will become a subsidiary of Gravita India Ltd.
- Gravita India Ltd. is also planning to enter the business of copper recycling.