Gravita India to Acquire Rashtriya Metal Industries for ₹800 Crore, Marks Strategic Entry Into Copper Alloys Sector

Gravita India Ltd has announced a major strategic acquisition deal to purchase Rashtriya Metal Industries Limited (RMIL) for about ₹800 crore, marking its entry into the copper and copper alloy segment. The binding agreement, signed on February 9, 2026, will see RMIL — one of India’s oldest and most respected manufacturers of copper and copper alloy products — become part of Gravita’s expanding metals portfolio.

RMIL, established in 1946, has a long-standing presence in the non-ferrous metals industry, producing a range of copper and copper alloy products including strips and coils. The company has built strong domestic and international market linkages, exporting to nations across the Middle East, Africa and Southeast Asia.

The acquisition is expected to be completed pending usual regulatory clearances and due diligence, with RMIL becoming a wholly owned subsidiary of Gravita India upon closing. This move diversifies Gravita’s business beyond its core recycling operations — particularly lead recycling — and reflects a broader ambition to deepen its footprint in metals processing and value-added product segments.

Gravita’s board has already approved the acquisition, and the company has disclosed the transaction under the Securities and Exchange Board of India’s regulatory framework. As per exchange filings, the integration of RMIL is expected to strengthen Gravita’s position in the circular economy while opening new revenue streams through copper alloy manufacturing.

Market analysts say the acquisition positions Gravita to benefit from rising demand for copper and its alloys, driven by sectors such as electrical equipment, automotive components and renewable energy infrastructure, where copper is a key raw material. The deal also aligns with broader industry trends of consolidation and diversification among metals and recycling firms in India.