April 2, 2026: Gravita India has acquired a 98.5% stake in Rashtriya Metal Industries — a key Indian producer of copper and copper alloy products — for Rs 559 crore ($60 million).

The lead recycling major said the deal would be finalized by March 31 — and Rashtriya confirmed in a statement on its website that it is now part of the Gravita group.

Gravita said its expansion into the copper market, including recycling from copper scrap to copper alloys, would complement its existing businesses in lead, plastic, rubber, and aluminium recycling and boost its export presence.

Around 40% of Rashtriya’s revenue comes from exports to key international markets such as the UAE, US, Thailand, Sri Lanka, Kenya, Indonesia, Oman, and Saudi Arabia. 

In India, Rashtriya operates a manufacturing facility in Gujarat with an installed production capacity of more than 31,000 tonnes per annum.

Last March, Gravita announced that the overall lead battery recycling capacity of its Mundra plant had exceeded 145,000 tonnes per annum following an expansion project shortly after launching its first lithium recycling plant at the site.

Also in March, Batteries International reported that the US government was offering funding of up to $500 million to support demonstration and commercial facilities for processing, recycling, or the use for the manufacture of critical materials which may include traditional battery minerals such as lithium, graphite, nickel, copper and aluminium.