Mergers Alliance | Gravita India Limited

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Deal Type

Acquisition

Sector

Industrials

Completion Date

9th February 2026

Deal Value

$90m

Company Background

Jaipur-based Gravita India Limited, a USD ~1,325 mn market cap company, is a leading global recycling company with 13 state-of-the-art manufacturing facilities worldwide, collectively capable of processing ~3,46,000 MTPA. With a presence in over 70 countries, the company operates across 5 business verticals and has achieved TTM Dec-25 revenues exceeding USD 450 mn and with an EBITDA of over USD 44 mn.

Incorporated in 1946 and based in Mumbai, Rashtriya Metal Industries Limited, is a legacy manufacturer of copper and copper alloy products, including brass strips, nickel-based alloys, electroplated brass, case cups, serving electrical, automobile, lock and engineering applications. The company operates a manufacturing facility at Sarigam (near Vapi), Gujarat, with an installed capacity of ~24,000 MTPA and has consistently scaled its capabilities over seven decades. RMIL derives ~60% of revenues from domestic markets and ~40% from exports, with key geographies including the UAE, USA, Egypt and Saudi Arabia, and is also supplying coin blanks to the Indian Government.

Deal Summary

Gravita India Limited, an ~USD 1,325 mn Market cap company, enters into a Binding arrangement to acquire Rashtriya Metal Industries Limited, one of India’s oldest and reputed manufacturers of copper & copper alloy products (strips, coils and cups), for an enterprise value of ~USD 90 mn.
The acquisition of RMIL would enable Gravita to strategically diversify into copper and copper alloy products including recycling from copper scrap to copper alloys, alongside its existing lead, plastic, rubber and aluminium businesses, strengthening its position as an integrated recycling and value added product manufacturer, strengthening competitive positioning and improving margin quality.
RMIL’s presence in electrical and automotive applications provides Gravita access to high-entry-barrier, policy-backed segments aligned with India’s Make-in-India initiatives.