Gravita India Merger & Restructuring Worth ₹0.48 Cr
Gravita India incorporated Gravita Recyclers USA Inc. as a wholly owned subsidiary for scrap trading. The US entity received an initial capital of ₹0.48 Crore.
- Value
- ₹0.48 Cr
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Gravita India incorporated Gravita Recyclers USA Inc. as a wholly owned subsidiary for scrap trading. The US entity received an initial capital of ₹0.48 Crore.
Gravita India incorporated Green Maputo Recyclers, LDA in Mozambique as a new step-down wholly owned subsidiary with an investment of USD 2,00,000 (₹1.92 Crore).
Gravita India Limited's board has approved the incorporation of a wholly-owned subsidiary in the USA, Gravita Recyclers USA Inc. The new entity will focus on trading scrap materials.
Gravita India is closing its subsidiary, Gravita Metal Inc., citing operational and cost efficiencies at its main Jaipur facility. This discontinuation is not expected to materially impact finances.
Gravita India Ltd. has completed the voluntary dissolution of its South African step-down subsidiary, Recyclers South Africa (PTY) Ltd. The subsidiary had no active business operations and its closure will not have a material financial impact on the company's books. No consideration was received as the entity was liquidated.