GRM Overseas Completes Warrant Conversion, Raises INR 86.83 Crore; Expands Equity Base Through Bonus Issue

Mumbai (Maharashtra) [India], February 07: GRM Overseas Limited, one of India's leading rice exporters, has announced the successful completion of its warrant conversion and equity allotment process following approval by its Board of Directors at a meeting held today. The company has converted the balance 77.18 lakh convertible warrants into an equivalent number of equity shares upon receipt of the remaining subscription amount of ₹86.83 crore, marking the full conversion of all warrants issued earlier on a preferential basis.

The warrants, originally allotted at an issue price of ₹150 per warrant, had received 25% of the subscription amount at the time of allotment, with the remaining 75% paid upon conversion. With this development, GRM Overseas has now fully converted all 90.70 lakh warrants, and there are no outstanding warrants pending, resulting in a significant strengthening of the company's capital base and financial flexibility.

In addition to the warrant conversion, the Board approved the allotment of 1.54 crore equity shares under a 2:1 bonus issue, in line with shareholder approval received at the Extraordinary General Meeting held in December 2025. The bonus issue reflects the company's confidence in its long-term growth prospects and its commitment to rewarding shareholders, while maintaining an optimal capital structure.

Following these allotments, the paid-up equity share capital of GRM Overseas has increased from ₹36.81 crore to ₹41.44 crore, with the total number of fully paid-up equity shares rising to 20.72 crore. All newly allotted equity shares rank pari passu with the existing shares of the company.

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