Gravita Europe S.R.L., a Romania-based company engaged in the trading and recycling of waste tyres, is set to become a 95 per cent-owned subsidiary of GNBV, following a proposed equity acquisition.

Currently, Gravita Europe S.R.L. is already a subsidiary of GNBV, with 80 per cent equity ownership. Under the proposed transaction, GNBV will acquire an additional 15 per cent stake, taking its total shareholding to 95 per cent.

The acquisition will be carried out through a cash consideration of €685,000 (approximately Rs 7.24 crore) for the transfer of 3,50,891 equity shares. The transaction is expected to be completed within around 30 days, subject to necessary approvals from local authorities in Romania.

The company clarified that the transaction does not fall under related-party transactions, and neither the promoter nor promoter group entities have any interest in the entity being acquired. Gravita Europe’s operations align with the core business of the listed entity, as it operates in the manufacturing and recycling sector.

Gravita Europe S.R.L. was incorporated on November 5, 2024, and reported a turnover of Rs 3.32 crore as of September 30, 2025. Given its recent incorporation, historical turnover data for the past three years is not available. The company currently operates exclusively in Romania.

The proposed stake increase is expected to strengthen Gravita’s European recycling footprint and enhance operational control over its overseas subsidiary.