JTL Industries acquires RCI Industries through resolution plan

JTL Industries Limited announced the acquisition of 1,00,00,000 equity shares of RCI Industries & Technologies Limited, representing 95% of RCI's total paid-up share capital. This acquisition, finalized on October 9, 2025, follows the approval of JTL's Resolution Plan by the National Company Law Tribunal, New Delhi. The shares were acquired at a price of INR 10 per share, totaling an investment of INR 10,00,00,000.

RCI Industries & Technologies, incorporated on January 7, 1992, is a BSE-listed company specializing in diversified non-ferrous metal products, including copper, brass, aluminum, stainless steel, and special alloy products. This acquisition will enable JTL to broaden its product offerings with flat and round non-ferrous metal products, particularly copper, strengthening its market appeal and positioning.

RCI experienced significant financial distress, with reported turnovers of INR 1.18 Crores in 2024-25, INR 3.12 Crores in 2023-24, and INR 23.13 Crores in 2022-23. The company has been under a Corporate Insolvency Resolution Process since November 2022. The acquisition is deemed complete with the handover of RCI to JTL by the Monitoring Committee.