JTL Industries to acquire RCI Industries after NCLT approval

JTL Industries Limited announced today that the National Company Law Tribunal (NCLT) in New Delhi has approved its resolution plan for the acquisition of RCI Industries & Technologies Limited. RCI, a BSE-listed company, is currently undergoing a Corporate Insolvency Resolution Process (CIRP). The NCLT's order was issued on October 9, 2025.

This acquisition enables JTL to diversify its portfolio by adding flat and round non-ferrous metal products, particularly copper, enhancing its market appeal to meet a broader range of industrial demands. JTL will acquire a 95% shareholding in RCI for an upfront payment of Rs. 46.50 Crores. The transaction is expected to be completed within 60 days from the NCLT approval order date.

RCI Industries manufactures diversified copper, brass, aluminum, stainless steel, and special alloy products, with its plant in Baddi, Himachal Pradesh. It has an installed capacity of 18,000 MTPA for brass and copper strips and 2,000 MTPA for copper wires and cables. Its turnover for the fiscal year 2024-25 was Rs. 1.18 Crores, down from Rs. 1386.27 Crores in 2016-17.