GRM Overseas has received an approval for the strategic investment in Swmabhan Commerce, acquiring 44% equity stake through primary infusion and secondary buyouts. The Board of Directors has approved the same at their meeting held on August 28, 2024.
The acquisition of Equity shares & Compulsory Convertible Preference Shares (CCPS) of Swmabhan Commerce is being completed at a mutually agreed pre-money enterprise valuation. The said pre-money enterprise valuation has not been disclosed herein due to reasons of confidentiality.
The transaction will strengthen GRM presence in the FMCG Segment and accelerate its digital transformation journey by adding another digital-first brand with a strong and differentiated proposition in its portfolio.
GRM Overseas is presently engaged in the business of processing and sale of rice.
