Corporate News

17-Oct-2026, 05:08

Gravita India Limited announced it will invest approximately Rs 94.42 crore to subscribe to a rights issue of its material subsidiary, Rashtriya Metal Industries Limited (“RMIL”), which is engaged in the manufacturing of copper & copper alloy products. The investment will fund general corporate purposes for RMIL, incorporated in 1946, which had a net worth of Rs 330 crore, total assets of Rs 579 crore, and turnover of Rs 1,041 crore as of March 31, 2026. Gravita India Limited’s shareholding in RMIL will increase from 99.5880% to 99.5881% post the rights issue, and the transaction is considered an arm’s length related party transaction.