Gravita India to Invest About ₹94.42 Crore in Rights Issue of Subsidiary RMIL
- Mergers & acquisitions
- Metals Recycling
Gravita India Limited has told the exchanges that it approved an additional investment of about ₹94.42 crore, or a higher amount if needed, to subscribe to the rights issue of Rashtriya Metal Industries Limited, a material subsidiary. It follows an intimation of 30 Sep 2026.
RMIL makes copper and copper alloy products, strips and coils, exported to countries including the UAE, the US, Thailand and Indonesia. For FY26 it reported a net worth of ₹330 crore, total assets of ₹579 crore and turnover of ₹1,041 crore, against ₹910 crore in FY25 and ₹688 crore in FY24. Gravita holds 99.5880% before the issue and 99.5881% after it. The money is for general corporate purposes, the payment is in cash, and the timing follows the rights offer.
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