Gravita India Ltd. has signed definitive agreements to acquire a 98.95% stake in Rashtriya Metal Industries (RMIL) for a total consideration of ₹559.08 crore. According to reports from CNBC TV18, the transaction is expected to be completed on or before March 31, 2026. The Jaipur-based recycling company's shares are expected to be in focus following this strategic acquisition announcement.
The acquisition will allow Gravita to expand strategically into copper and copper alloy products, including recycling of copper scrap into copper alloys. As reported by CNBC TV18, this will complement its existing operations in lead, plastic, rubber and aluminium recycling. RMIL operates an integrated manufacturing facility in Sarigam, Gujarat, spread across 15 acres with an installed production capacity of 31,200 MTPA. The company is a well-established manufacturer of copper and copper alloy products, including strips and coils, with a strong export presence.
Nearly 40% of RMIL's revenue comes from exports to key international markets, including the UAE, the US, Thailand, Sri Lanka, Kenya, Indonesia, Oman and Saudi Arabia. According to the regulatory filing reported by CNBC TV18, the company has built a meaningful presence in electrical and automotive applications, giving Gravita access to high-entry-barrier and policy-supported segments aligned with India's Make in India initiative.
Shares of Gravita India settled 0.35% lower on Thursday at ₹1,500. As reported by CNBC TV18, the stock has declined more than 19% so far this year. Global M&A advisory firm Singhi Advisors acted as the exclusive strategic and financial advisor for the transaction, while Crawford Bayley & Co. served as the legal advisor to Gravita. The acquisition comes at a time when global demand for copper continues to rise, with worldwide refined copper consumption having more than tripled over the past five decades.
