Gravita India Ltd. has filed a regulatory disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding its proposed investment in the rights issue of its material subsidiary, Rashtriya Metal Industries Limited (RMIL).
Nature of the Event
The disclosure intimates the stock exchanges about the company's approval to make an additional investment of approximately ₹94.42 crores (or such higher amount as may be required) to subscribe to the Rights Issue of RMIL. This follows a previous intimation dated 30th September, 2026.
Key Quantitative Figures
- Investment Amount: Approximately ₹94.42 crores
- RMIL Financials (as of March 31, 2026):
- Net Worth: ₹330 crores
- Turnover: ₹1,041 crores
- Total Assets: ₹579 crores
- RMIL Historical Turnover:
- FY 2025-26: ₹1,041 crores
- FY 2024-25: ₹910 crores
- FY 2023-24: ₹688 crores
Shareholding Details
- Pre-Rights Issue Shareholding: 99.5880%
- Post-Rights Issue Shareholding: 99.5881%
- The minimal change indicates the investment will maintain virtually the same ownership percentage.
Parties Involved
- Investor: Gravita India Ltd.
- Target Entity: Rashtriya Metal Industries Limited (RMIL), a material subsidiary of Gravita India Ltd.
- Regulatory References: SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Target Entity Details
- Date of Incorporation: November 28, 1946
- Country of Incorporation: India
- Business: Manufacturing of copper & copper alloy products (strips and coils)
- Export Markets: UAE, USA, Thailand, Sri Lanka, Oman, Saudi Arabia, Kenya, Indonesia
Transaction Details
- Consideration Type: Cash consideration
- Transaction Classification: Related party transaction (as RMIL is a material subsidiary)
- Transaction Basis: Arm's length
- Government Approvals: Not applicable
- Completion Timeline: Within the timelines specified in the Rights Offer
Purpose of Acquisition
The investment is for funding the general corporate purposes of the material subsidiary, RMIL.