Multibagger stock GRM Overseas is likely to be in focus on Friday, 27 February 2026, after the company shared an update on the acquisition of a UAE-based FMCG brand.
In an exchange filing submitted post-market hours on Thursday, 26 February, GRM Overseas said it has completed the acquisition of GRM ARABIA FZCO, which is now a wholly owned subsidiary of the company.
“GRM Overseas Limited (“the Company”) has acquired GRM ARABIA FZCO, a company registered with the Company Regulations of the Dubai Multi Commodities Center Authority, and it becomes a 100% Wholly Owned Subsidiary (“WOS”) of the Company,” the filing read.
The company acquired 100% share capital in cash consideration totaling up to AED 50,000. Additionally, the acquisition does not fall under related party transactions.
What does the acquisition aim for?
Through the acquisition, GRM Overseas aims to establish a distribution and marketing hub in the UAE for catering to customers in the region and nearby international markets, including trading, importing, exporting, and distribution of rice, food grains, and related food products, the company said.
GRM Overseas share price today
Following the market hours on Thursday, GRM Overseas’ share price stood at ₹160.5, down 2.58% at the BSE. The shares opened at ₹171.6 apiece today.
Other corporate developments
This month, GRM Overseas shared updates on the conversion of warrants and the bonus issue as well. The company informed on 6 February that its board had approved that the 77.18 lakh equity shares valued at ₹2 each have been converted from warrants after receiving ₹86.83 crore at ₹112.50 per warrant, as per SEBI (ICDR) Regulations, 2018. Further, there are no outstanding warrants pending for conversion, as the entire allotment of warrants has been fully converted into equity shares.
On 8 August 2024, the company’s board of directors allocated 90.7 lakh convertible warrants at ₹150 each, amounting to ₹34,01,25,000, received as a 25% subscription from allottees on a preferential basis.
Of the 90.7 lakh convertible warrants, 13,52,000 have been converted into equity shares. The company this month received ₹86.83 crore for the remaining 77.18 lakh warrants from 21 holders at Rs. Rs.112.50 per warrant.
In terms of the bonus issue, the board approved an issue of 1,54,36,000 equity shares, which was approved by the company members at an Extraordinary General Meeting on 9 December 2025, at a 2:1 ratio.
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