GRM Overseas Limited has successfully completed a major warrant conversion exercise, converting 77,18,000 warrants into equity shares and raising ₹86,82,75,000 in the process. The Board of Directors approved the conversion and allotment on February 06, 2026, marking the completion of a significant capital raising initiative.

Warrant Conversion Details

The conversion involved 77,18,000 warrants out of the original 90,70,000 warrants allotted on August 08, 2024. The company had previously converted 13,52,000 warrants on May 28, 2025, leaving 77,18,000 warrants for this final conversion round.

Major Allottees and Distribution

The warrant conversion involved both promoter and non-promoter categories, with significant participation from institutional investors. The largest allocations went to investment funds, demonstrating strong institutional confidence in the company.

Key Allottees:

• FORBES EMF: 20,00,000 warrants (₹22,50,00,000)
• Coeus Global Opportunities Fund: 20,00,000 warrants (₹22,50,00,000)
• Singularity Equity Fund I: 11,70,000 warrants (₹13,16,25,000)
• Atul Garg (Promoter): 5,50,000 warrants (₹6,18,75,000)
• Mamta Garg (Promoter): 5,50,000 warrants (₹6,18,75,000)

Bonus Share Allotment

Simultaneously, the Board approved the allotment of 1,54,36,000 bonus shares in the ratio of 2:1, as approved by shareholders in the Extraordinary General Meeting held on December 09, 2025. This means warrant holders received two additional bonus shares for every one share obtained through warrant conversion.

Impact on Share Capital

The warrant conversion and bonus issue significantly impacted the company's capital structure. The paid-up share capital increased substantially, reflecting the successful completion of the fundraising exercise.

Regulatory Compliance

The allotment was conducted in accordance with SEBI (ICDR) Regulations, 2018, and the Listing Obligations and Disclosure Requirements Regulations, 2015. The company confirmed that all newly allotted shares rank pari-passu with existing equity shares.

The Board meeting was held at the company's Corporate Office in Village Naultha, Tehsil Israna, Panipat, Haryana, commencing at 05:00 P.M. and concluding at 06:40 P.M. on February 06, 2026. The company noted that no warrants remain outstanding, with the entire warrant allotment successfully converted into equity shares.

GRM Overseas Limited has delivered exceptional financial performance for Q3FY26, with revenue from operations reaching ₹482.8 crores compared to ₹371.2 crores in Q3FY25, marking a robust 30.0% year-on-year growth. The company's profit after tax (PAT) surged 42.8% to ₹19.3 crores from ₹13.5 crores in the corresponding quarter of the previous year.

Q3FY26 Financial Performance

The company's quarterly results demonstrate strong operational performance across all key metrics. EBITDA grew by 34.1% to ₹31.3 crores compared to ₹23.3 crores in Q3FY25, with EBITDA margin improving to 6.3% from 6.1% in the previous year. Total income, including other operating income and other income, reached ₹492.6 crores.

Nine Months FY26 Performance

For the nine months ended December 31, 2025, GRM Overseas reported revenue from operations of ₹1,172.0 crores compared to ₹1,056.8 crores in 9MFY25, registering 10.9% growth. Total income for the period reached ₹1,199.1 crores, up 11.3% from ₹1,077.7 crores in the previous year. EBITDA for the period grew 28.7% to ₹87.3 crores with margin expansion to 7.3% from 6.3% in the previous year.

Strategic Vision and Growth Plans

GRM Overseas has outlined an ambitious vision for FY28, targeting significant revenue growth through its diversified business portfolio. The company operates through two main segments: international business focused on basmati rice exports to over 50 countries, and domestic business through subsidiary GRM Foodkraft Private Limited with 91.48% shareholding.

The company has established advanced manufacturing capabilities with annual production capacity of 440,800 MT across three facilities in Panipat (Haryana), Naultha (Haryana), and Gandhidham (Gujarat). Additionally, GRM has tied up with 10 third-party manufacturing units across 5 states with installed capacity of 4,800 MT of Atta and 4,000 MT of Edible Oil per month.

Corporate Developments

During the quarter, the company successfully completed its bonus issue in the ratio of 2:1, reflecting the Board's confidence in GRM Overseas' long-term growth prospects. The company has also launched 10X Ventures as a strategic platform to drive growth by investing in Digital-First New Age D2C brands, with plans to invest ₹200 crores in the first phase.

GRM recently acquired a 44% stake in Swmabhan Commerce Private Limited, the parent company of Virat Kohli-backed digital-first coffee brand "Rage Coffee," marking its first investment under 10X Ventures. The financial results were approved during the board meeting held on February 04, 2026, at the company's corporate office in Village Naultha, Panipat, Haryana.