GRM Overseas Shares Trade In Green As Company Acquires Stake in Virat Kohli-backed Coffee Brand

Shares of FMCG major GRM Overseas traded in the green on Wednesday as the company announced a strategic investment in Swmabhan Commerce Pvt Ltd, the parent company of Virat Kohli-backed digital-first coffee brand Rage Coffee.
According to an exchange filing, the company has acquired a 44 per cent equity stake through primary infusion and secondary buyouts.
The counter started flat at Rs 269.95 but gained further to touch the intra-day high of Rs 280.40. This is a gain of 2.14 per cent from the previous close of Rs 269.10 on the BSE. From here, the stock is 4.34 per cent away from the 52-week high of Rs 286.15.
On technical parameters, GRM Overseas is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages
As per the information provided, Swmabhan Commerce, having an authorised capital of Rs 10,00,000 divided into 50,000 equity shares and 50,000 preference shares of face value Rs 10 each, had a turnover of 2495.62 lakh (unaudited) in 2023-24.
GRM Overseas said that the transaction will strengthen its presence in the FMCG segment and accelerate its digital transformation journey by adding another digital-first brand with a strong and differentiated proposition to its portfolio. Swmabhan Commerce Pvt Ltd was incorporated on August 03, 2018, with a registered office in New Delhi. The Company is a manufacturer of instant-flavoured coffee having a manufacturing facility in Manesar, Haryana.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)