Gravita India’s step-down subsidiary -- Gravita Netherlands BV (GNBV) has planned to make further investment in Gravita Europe S.R.L., a subsidiary of GNBV. This investment will involve the acquisition of an additional 3,50,891 shares, representing 15% of Gravita Europe S.R.L.
As a result of this acquisition, Gravita Netherlands B.V.'s shareholding in Gravita Europe S.R.L. will increase from the current 80% to 95%. The business of Gravita Europe S.R.L. is not outside the main line of business of the listed entity.
Gravita India is a leading recycling company having its operations in Non-Ferrous Metals and Plastic Recycling.
