Deal Curry Wednesday reported Gravita India Ltd has acquired a majority 80% stake in Jammu & Kashmir-based Metal Inc. The Company is also under process to acquire the balance 20% in Metal Inc, making it a 100% wholly owned unit.
The deal will increase Gravita’s lead smelting and refining production capacity by 3,600 mtpa to 46,200 mtpa. Recently, Gravita India bought 60% stake in Jammu-based K M Udyog, a lead metal manufacturer with an installed capacity of 7,200 TPA, said Deal Curry.
Promoted by Rajat Agarwal and Rajeev Surana, Gravita India is the flagship company of the Gravita Group which was established in the year 1992 and has manufacturing set up at Jaipur.
Company is engaged in manufacturing lead metal by recycling & smelting process & other lead products, indicated the report.
Company has 8 lead manufacturing units in operations presently, out of which 2 are in Asia and 5 are in African continent. Company recently raised Rs.45 Cr through IPO by diluting around 28% stake, at an issue price of Rs.125 per share. The stock recently touched a high of Rs.421 per share.
The funds raised through IPO will be used to expand manufacturing facilities at Jaipur and setting up a new manufacturing facility at Wada, Maharashtra. It is also planning to expand its operations in Australia, Belarus, Chile and Mexico. GIL will be investing in overseas ventures in Sri Lanka, Senegal and Honduras.
The Gravita Group of companies are owned and managed by a forward-looking and dedicated team of professionals. The company’s commitment is to provide low cost Lead and its products at highest quality with a special emphasis on timely deliveries.
All its business processes are targeted towards the maintenance of high levels of quality for products and at the same time being cost-competitive. The company is very versatile in its operations.
The company is based in Jaipur, the capital of the state of Rajasthan and are only 265 kms away from New Delhi, the capital of India. Jaipur is well connected by rail, road and air.
The company’s EXPERTISE COVERS Pure Lead Manufacturing, Lead Alloying, Lead Sub-Oxide, Red Lead and Litharge Manufacturing, Lead Sheets, Lead Pipe and Lead Powder Manufacturing, Lead Mono Silicate and Re-Melted Lead Manufacturing, Air, Water and Solid Waste Pollution Control.
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