GRM Overseas Expands Equity Base To 20.72 Cr Shares After 2:1 Bonus Issue & Conversion Move

In light of the conversion of warrants into equity shares and the issuance of reserved bonus shares, GRM Overseas Limited has notified the stock exchanges of a change in its shareholding of its Promoter Group and Persons Acting in Concert (PACs). After the convertible share warrants were exercised, the corporation issued 37,14,000 equity shares with a face value of Rs 2 each to PACs and members of the promoter group.

Mr. Nipun Jain, Mr. Hukam Chand Garg, Mrs. Mamta Garg, and Mr. Atul Garg are among the allottees. These shares rank pari-passu with the current equity shares in every way, including dividend entitlement and voting rights. They were issued by preferential allotment with reserved bonus shares.

Before this transaction, the acquirer and PACs together held 12,56,51,952 equity shares, or 68.27% of the entire shareholding. The overall holding grew to 12,93,65,952 equity shares after its acquisition of 37,14,000 shares (1.79%). However, the promoter group's percentage ownership now stands at 62.43% of the increased share capital due to the expansion of the company's entire equity base following the allocation and bonus issue.
The company's equity share capital prior to the aforementioned transaction was Rs 36,81,12,000, which was split up into 18,40,56,000 equity shares, each worth Rs 2. The equity share capital rose to Rs 41,44,20,000 following the issuance and bonus issue, consisting of 20,72,10,000 equity shares at a price of Rs 2.

The total diluted share capital post-acquisition remains the same, assuming full conversion of outstanding convertible securities.

Notably, on August 8, 2024, the company issued 90,70,000 convertible share warrants that were convertible within 18 months in compliance with the 2018 SEBI (ICDR) Regulations. 25% of the issue price, or Rs 37.50 per share, was paid up front at the time of subscription, and each warrant was convertible into one equity share upon payment of the remaining balance. At the Extraordinary General Meeting on December 9, 2025, shareholders also authorized a 2:1 bonus issue, which distributed two additional equity shares for each share owned.

The disclosure has been formally signed by Mr. Atul Garg, Promoter and Managing Director of GRM Overseas Limited, from Panipat on February 10, 2026. On February 11, 2026, the NSE closed the share price of GRM Overseas Ltd (GRMOVER) at Rs 163.00, representing a daily gain of Rs 1.75 (+1.09%). The stock fluctuated between an intraday high of Rs 165.00 and a low of Rs 161.10 after opening at Rs 161.82.

On February 6, 2026, the board allotted 37.14 lakh equity shares to the promoter group following the conversion of warrants, increasing the total equity base. This followed a 2:1 bonus issue allotment completed in late December 2025.