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Gravita signs binding term sheet for acquisition of Rasthriya Metal Industries Limited
A New Vertical. A New Vision.
As a global recycling company and the circular economy champion, Gravita India Limited is proud to announce its strategic expansion into the Copper and Copper Alloy segment. This milestone marks our inaugural entry into the copper market, further diversifying our non-lead portfolio and accelerating our Vision 2028 objectives.
Jaipur 09th February, 2026: Gravita India Limited (“Gravita” or “the Company”), a leading recycling company with a global presence, has announced that it has signed a binding term sheet for the proposed acquisition of equity stake upto 100% in Rasthriya Metal Industries Limited (“RMIL”) by way of a Share Purchase Agreement (“SPA”).
The proposed acquisition involves the purchase of shares from the existing shareholders of RMIL, which upon completion will result in RMIL becoming a subsidiary of Gravita.
RMIL is one of the most reputed manufacturers of copper & copper alloy products (strips, coils etc.) with ~40% exports to UAE, USA, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia etc. RMIL has an integrated manufacturing facility in Sarigram, Gujarat across 58,287 square meters of land with a production capacity of 31,200 MTPA. Further, RMIL is having a turnover of Rs. 910 crores and EBITDA of Rs. 60 Crores for the year ended 31st March, 2025.
The purchase consideration for the proposed acquisition of 100% equity stake is ~ Rs. 565 crore. The transaction is expected to be completed on or before 31st March 2026, subject to completion of due diligence, execution of definitive documentation, receipt of necessary regulatory and other approvals, and satisfaction of customary closing conditions.
Signing of this binding term sheet will create an opportunity for expansion of group into the new vertical of Copper, increase the share of non-Lead business, provide further opportunities for backward integration, and create strong operating synergies with our existing plants across procurement, logistics and sales.
