Gravita India to Acquire 98.95% Stake in Rashtriya Metal Industries for ₹559 Crore
Gravita India Ltd. will be in focus on Friday, March 13, after the Jaipur-based recycling company signed definitive agreements to acquire a 98.95% stake in Rashtriya Metal Industries Ltd. (RMIL) for a total consideration of ₹559.08 crore.The company noted in a regulatory filing that the transaction is expected to be completed by or before March 31, 2026.
Strategic Expansion into Copper and Copper Alloys
RMIL generates nearly 40% of its revenue from exports to international markets, including the UAE, the US, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia. The company operates an integrated manufacturing facility in Sarigam, Gujarat, spanning 15 acres, with an installed production capacity of 31,200 MTPA.A well-established manufacturer of copper and copper alloy products such as strips and coils, RMIL has a strong presence in electrical and automotive applications. The acquisition will give Gravita access to high-entry-barrier and policy-supported segments, aligning with India’s "Make in India" initiative.
This move will enable Gravita to strategically expand into copper and copper alloy products, including recycling copper scrap into copper alloys, complementing its existing operations in lead, plastic, rubber, and aluminium recycling. The acquisition is also expected to strengthen Gravita’s position as an integrated recycling and value-added product manufacturer, enhancing its competitive positioning and margin profile.
Advisory and Market Context
Global M&A advisory firm Singhi Advisors acted as the exclusive strategic and financial advisor for the deal, while Crawford Bayley & Co. served as Gravita’s legal advisor.The acquisition comes amid rising global demand for copper. Over the past five decades, worldwide refined copper consumption has more than tripled, driven by growth in electrical and electronic products, construction, industrial machinery, transportation equipment, and consumer goods.
Share Performance
Shares of Gravita India closed 0.35% lower on Thursday at ₹1,500, with the stock down more than 19% so far this year.This acquisition positions Gravita to leverage growing global copper demand while expanding its footprint in high-value recycling and manufacturing segments.
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