GRM Overseas is currently trading at Rs. 195.50, up by 7.00 points or 3.71% from its previous closing of Rs. 188.50 on the BSE.
The scrip opened at Rs. 192.45 and has touched a high and low of Rs. 196.75 and Rs. 188.00 respectively. So far 41520 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 231.35 on 08-Sep-2023 and a 52 week low of Rs. 114.15 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 196.75 and Rs. 171.90 respectively. The current market cap of the company is Rs. 1146.90 crore.
The promoters holding in the company stood at 72.16%, while Institutions and Non-Institutions held 0.26% and 27.58% respectively.
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.
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