Gravita India expands into copper with RMIL acquisition
after close1 source ↓written by the desknot a recommendation
- Industries RMIL
- ₹565 crore
- in capacity expansion
- ₹1,200 to ₹1,300 crore
Gravita India has acquired Rashtriya Metal Industries (RMIL) for ₹565 crore, marking a strategic shift into copper and its alloys. This move aligns with Gravita's goal to invest ₹1,200 to ₹1,300 crore in capacity expansion by FY29, aiming to boost processing capacity from 3.3 lakh tonnes to 7 lakh tonnes. The acquisition is expected to enhance operational efficiency and capitalize on rising copper demand.
Not investment advice. For informational purposes only.