GRM Overseas has received approval to raise Rs 136.50 crore through the issuance and the allotment of up to 91,00,000 share warrants on a preferential basis to a mix of promoters and non-promoters.
This fundraising strategy aims to bolster the company's '10X' brand in India, transforming it into a comprehensive food FMCG product company. The funds will also support future inorganic growth opportunities, such as strategic mergers and acquisitions and enhancing operational capabilities. The Board of Directors of the company at their meeting held on June 21, 2024, inter-alia considered and approved the same.
GRM Overseas is presently engaged in the business of processing and sale of rice.
