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 nearly 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 crore and EBITDA of Rs 60 crore for the year ended 31 March 2025.

The purchase consideration for the proposed acquisition of 100% equity stake is approximately Rs 565 crore. The transaction is expected to be completed on or before 31 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,” the company said in a statement.

Gravita India is a manufacturer of lead, lead alloys & lead products, aluminum alloys & plastic granules, and offers turnkey solutions for the recycling industry and consultancy.

The company's consolidated net profit jumped 25.33% to Rs 97.67 crore on 2.07% increase in revenue from operations to Rs 1,017.07 crore in Q3 FY26 over Q3 FY25.